S&T Base Comps

What's the latest base comp for BB S&T across the street, from bottom of the totem pole to MD?

Which BBs have the highest bonuses (traders), accounted for desk variation? 

BBs have raised IBD comps, when are we going to see that for S&T?

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Comments (68)

Jun 26, 2021 - 7:58am

I only know for sure analyst base are 85, 90, 95 for years 1-3. I've heard theres more variation at associate level from $115-125 but I think 115k is the standard (for year 1 Assc).

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  • Prospect in S&T - FI
Jun 28, 2021 - 10:23am

An1: 85k with 25k stub

An2: 90k with ~40k-100k bonus range

A0: 125k base not sure about bonus

A0 at 125 for S&T is very low compares to A0 IBD that's around 175k?!

  • Associate 1 in S&T - Other
Jun 28, 2021 - 2:59pm

The $125k happens at your third year on the job, while IB 3rd year analysts are making $95k base, and only lasts for four months until you go to A1 at $140k

  • Business School in IB - Gen
Jun 28, 2021 - 4:56pm

Please correct me if i'm wrong about this, but would it be:

85k base + 25k stub (let's say for a 2021 FT): 2021 July - 2021 Dec (6 months ish) 

90k base + *average* 70k bonus: 2022 Jan - 2022 Dec (1 full year)

125k base for 4 months?: 2023 Jan - 2023 Apr

140k base + whatever the bonus is: 2023 May - 2023 Dec (end of 3rd year, but really only 2.5)

I could be completely fucking off so plz lmk

  • Intern in S&T - Equities
Jul 11, 2021 - 8:41pm

$70k bonus for an Analyst? In 2021?

I feel like that's a bit high nowdays... can any analyst/associate confirm?

Jun 28, 2021 - 4:34pm

i recall years back i was a VP and paid a 100k base (this firm capped base and all variability was in the bonus)....and got a 600k bonus....so depending on the firm, the desk, and your performance, base could be a very small % of actual comp...so in my case base was only 14% of total comp that year.

just google it...you're welcome
Jun 28, 2021 - 7:54pm

i had just started trading large size and got lucky with a string of mean reverting days and months...and i had just learned a mean reverting strategy using market profile...so it was just a gangbusters year.  the next year i tried to keep it going but then i faded a breakout (had not really seen on of those before)...and i got crushed and lost it all...and THEN i learned how to use a stop loss.   thats what happens when you think you know it all...but you only know half the story

just google it...you're welcome
  • 1
  • Associate 1 in S&T - Other
Jun 28, 2021 - 5:39pm

So for my bank, pay changes typically happened on July to July timeframe (except the $125k to $140k) and bonuses all happened in winter. So for example:

$85k July 2021 July 2022 + $25k bonus (January 2022)

$90k July 2022 - Aug 2023

$125k Aug 2023 - Jan 2024

$140k after Jan 2024

  • Associate 3 in S&T - Other
Jun 29, 2021 - 10:08am

Top 3 BB:

Analyst 1: $85k

Analyst 2: $90k

Analyst 3: $95k

Associate 1: $125k

Associate 2: $140k

Associate 3: $160k

As base goes up, bonus will go down, so net pay increase yoy is between +10-15%.

For reference, IBD analyst 1 starts at $100k now, so there's a significant pay gap.

  • Prospect in S&T - FI
Jun 29, 2021 - 11:36am

Anything about banks raising S&T bases? We need to pressure them! 

Trader lives matter!

  • Associate 3 in S&T - Other
Jun 29, 2021 - 11:50am

Anything about banks raising S&T bases? We need to pressure them! 

Trader lives matter!

No, they won't. Where are S&T analysts going to if there isn't an increase?

There is no competitive pressure. IBD is growing while S&T headcount is still shrinking.

IBD analysts get recruited by PE at 6 months, and can easily go to HF and Corp Dev.

S&T analysts don't have any exit opps and aren't actively recruited. There are no high paying S&T boutiques. If you're a trader you can exit to a HF after a solid track record of maybe 5-10 years. If you're in sales you can exit to sales at another bank or asset manager, but again, headcount is shrinking everywhere so there aren't that many exits.

Without competitive pressure pay will stay flat/go down.

Most Helpful
Jul 2, 2021 - 1:02pm

Here's a comprehensive summary based on my own research from combing through threads last year:

  • Analyst 1: 85-90k base, 35/45-60k bonus
  • Analyst 2: 90k base, 45/50-70k bonus
  • Analyst 3: 95k base, 35-70/75k bonus
  • Associate 1: 125k base, 75/80-100/110k bonus
  • Associate 2: 140k base, 100-140k bonus
  • Associate 3: 160k base, ??? bonus
  • VP: 175k base, 25-175k bonus 

Array

  • 4
  • VP in S&T - Other
Jul 8, 2021 - 5:42pm

An0 $85k + $10k signing + $25k stub

An1 $90k + $55k

An2 $95k

Ao0 $125k + $65k <= full year bonus for 1/2 year An2 and 1/2 year Ao0

Ao1 $140k + $70k

Ao2 $150k + $75k

Ao3 $160k + $85k

VP1 $175k + $125k

VP2 $200k + ? (current level)

--- Everything below this line I cannot personally confirm ---

Ao4 (if not promoted to VP after Ao3) $175k + ??

VP3 $225k + ??

D $300k + ??

MD $400k + ??

Sep 6, 2021 - 1:28pm

VP in S&T - Has your base increased as part of the increases in bases for analysts? I too am a VP in S&T at a BB and haven't been notified of any raises just yet, so was curious. 

  • VP in S&T - Other
Sep 6, 2021 - 6:13pm

I haven't heard anything regarding bases going up in S&T. As far as I know the analyst bases haven't gone up either.

Sep 6, 2021 - 1:42pm

Analyst in S&T for sure - seems like a much more fulfilling career vs ops. You can work your way up to VP and above in S&T too, and your lifetime earnings would likely trounce those of someone who started off as a VP in ops

  • Associate 1 in S&T - Other
Sep 6, 2021 - 7:58pm

It's actually pretty strange during the As0 year. The way they do the bonus is part associate stub, part performance. At my bank it can come out to ~$65k. The way it works out (at my bank) is top bucket An2 bonus was more than top bucket As0 bonus because HR can't do the math. While the As0 was ~$65k, the equivalent An2 was $75k

  • Associate 1 in S&T - Other
Sep 8, 2021 - 1:32pm

At my bank you receive the promotion effective in August, 2 years after you start work. You're at As0 / $125k for the next 4 months until January, when you bump to $140k

  • Associate 1 in IB - Cov
Sep 8, 2021 - 2:01pm

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  • VP in S&T - FI
Sep 8, 2021 - 8:01pm

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Total Avg Compensation

September 2021 Investment Banking

  • Director/MD (10) $853
  • Vice President (39) $363
  • Associates (220) $232
  • 2nd Year Analyst (135) $154
  • 3rd+ Year Analyst (30) $147
  • Intern/Summer Associate (103) $143
  • 1st Year Analyst (487) $135
  • Intern/Summer Analyst (377) $82