S&T 2021/2022 Bonuses

Not sure if there was a thread yet for 2021/2022 S&T comp points. I know a few banks got paid out. Few data points for when people put it:

Bank Type: BB/MM/etc

Desk:

Desk Performance:

Individual Bucket:

Base/Bonus for this year: 

% upfront/deferred/stock:

New base for next year:

Comments (142)

Most Helpful
Dec 22, 2021 - 12:03pm

I suppose I will just post my past numbers for now, given my BB only pays our bonuses in March...

Bank Type: European BB [CS/Barclays/DB/UBS]

Desk: FICC Financing

2021 Title: VP1

2021 Base: $180K 

2021 Bonus / Total: TBD [hoping for a Bonus between $170K-$220K, so $350K-$400K Total]

2020 Title: Associate

2020 Base: $130K

2020 Bonus / Total: $143K Bonus [$110.3K Cash, $32.7mm Deferred] / $273K Total 

Will update with 2021 Bonus + Total once I find out in March, and will include my 2022 Base - let's see how my prediction for 2021 plays out!

Dec 22, 2021 - 7:07pm

This is the latest I've seen on this forum, but I have no clue as to how the recent pay raises will impact the below. I believe we will only find that out once we see people posting their comp numbers here for the most recent year as banks start paying their bonuses.

Analyst: $135K-$175K
Associate: $200K-$300K
VP: $300K-$500K
Director: $500K-$750K
MD: $1MM-$3MM

  • VP in S&T - FI
Dec 23, 2021 - 11:45am

Couple of questions 

1. Sales, trading, research?   
2. Is your deferred cash or stock?  If cash what investment options do you have (we have 20 or so index funds we can invest in)?  If stock, are you doing any options trading around it, and what are you doing once it vests?  I don't do anything in terms of options, and sell the stock once it vests.         
3. What is the vesting schedule on the deferred cash/stock?  Ours is 3 years.        

I'm a VP 2 on a FICC sales desk at a US BB, and wondering how our deferred situation compares to others.  

Dec 23, 2021 - 12:31pm

1. So at my BB, within FICC, we have FICC S&T, FICC Financing, and FICC Structuring. I am within FICC Financing, which is a lending business as opposed to sales or trading. But our interns/analysts still do rotations across all of FICC - S&T, Financing, and Structuring. The other 2 parts of our IB are M&A/ECM/DCM and research.

2. Half cash, half stock. Regarding cash, I believe it is actual cash that would be deposited directly to my checking account, as opposed to cash that is required for me to invest in various invest index funds, etc. And our stock is restricted stock units of the company, instead of options. So I am compensated with $16.35K worth of my company's stock.

3. Our vesting schedule is 4 years.

Hope that helped! My question for you is what was your comp (base + bonus) when you were a VP1, and what is your base as VP2?

Jan 1, 2022 - 11:42pm

Oh man, how I wish it was $32.7mm! So this $32.7K vests over 4 years, which means in 2022, 2023, 2024, and 2025, I will receive $8.2K each year ($4.1K of which is cash, and $4.1K of which is stock). Hope this clears it up.

  • VP in S&T - Other
Dec 22, 2021 - 9:42pm

Note I am a FO quant with no direct p&l link

2014 / A0 / 70 + 25 stub

2015 / A1 / 90 + 55

2016 / A2 first half, Ao0 second half / 95 => 125 + 65

2017 / Ao1 / 140 + 70

2018 / Ao2 / 150 + 75

2019 / Ao3 / 160 + 85

2020 / VP1 / 175 + 125 (25% deferred)

2021 / VP2 / 200 + ???

Dec 22, 2021 - 10:10pm

I've actually seen you post on this forum before - looks like we are both Class of 2014! Out of curiosity, what's your educational background? I went to a target school (UMich Ross/NYU Stern/UVA McIntire/Berkeley Haas; undergrad only), majored in Finance, and am a CFA Charterholder

  • Associate 1 in S&T - Other
Dec 22, 2021 - 11:08pm

Your base wasn't revised (increased like they did for IB) last year?

  • Investment Manager in HF - Other
Dec 23, 2021 - 9:26am

Interesting, what type of work do you do as a FO quant? My only experience is with HF "quant". Mostly asking because on the HF side I see the comp move a fair bit quicker (for 6-7 yrs more like 500+ all in, excluding the crazy outliers like those 400k entry level roles) and I'm wondering how transferable your skill set is and whether you've explored going the investment management/HF side. 

Dec 26, 2021 - 11:20am

"NYC, VP2. 50k base. 5k bonus. Company eliminated 401k match and requires us to now pay for our own office materials. They've announced they're slashing the bottom 10% of desks each month from a PnL perspective. Quants blatantly point and laugh at us when we walk on the floor."

Dec 26, 2021 - 1:06pm

Damn that's pretty high. Mind if you share which desk? an incoming SnT intern here

Array
  • VP in S&T - FI
Jan 4, 2022 - 8:33pm

At a US BB, our bonus was historically anounced within a week after earnings release and paid out the week after. Usually before Feb

  • VP in S&T - Equities
Jan 6, 2022 - 8:34pm

Bank Type: US BB

Desk: Equity derivs

Started in 2014 with same comp to the VP above for analyst years (mid bucket) so copying the format

2014 / A0 / 70 + 25 stub

2015 / A1 / 90 + 55

2016 / A2 first half, Ao0 second half / 95 => 125 + 65

2017 / Ao1 / 140 + 110 = 250

2018 / Ao2 / 150 + 170 = 320

2019 / Ao3 / 160 + 240 = 400

2020 / VP1 / 175 + 400 = 575

2021 / VP2 / 200 + ???

  • Intern in AM - Other
Jan 13, 2022 - 12:41pm

anyone have color on macro strategist comp? either EMFX or G10FX?

  • Prospect in S&T - Comm
Jan 19, 2022 - 8:43am

I see it asked below, but also curious as to sales or trading?

Jan 19, 2022 - 2:25pm

Nice, I guess they get to keep you for another year :)

With that comp, I'm assuming you are a material risk taker. Did MRT remove the 2x bonus cap, or have you never had any cap? (thought only MDs could get "unlimited" bonus)

Also, are you in NYC? If not, did you use spot FX to convert?

Jan 19, 2022 - 5:43pm

did assoc/VP BB base comp increase in S&T?

Traditional base was:

A1, A2, A3, VP1

125, 140, 160, 175

Array
Jan 19, 2022 - 9:11pm

2021 numbers, was promoted to associate about 6 months ago, summer 2021.

Bank type: MM

Desk:Corporate fx sales

Desk performance: middle

Individual bucket: middle

Base for 2021: 95k > 125k (A3 > Ao0)

Bonus for 2021: 65k (A3)

New base for next year aka 2022: first full year as associate (Ao1) looks to be around 140-150k

Jan 20, 2022 - 12:36am

Looks to be around 140-150k? Did they make you solve a puzzle or something to figure out your salary? Usually they will tell you in the meeting.

Array

  • 1
Jan 22, 2022 - 2:08pm

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  • Associate 1 in S&T - Equities
Jan 26, 2022 - 10:10am

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  • Associate 1 in S&T - Equities
Jan 27, 2022 - 4:20am

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