Typical UMM comp for 1st year Associates in London

I recently got a couple of offers to join a couple of MM/ UMM shops in London. Excited about the UMM especially until I heard the comp - 85 base and avg. 100% bonus. All in 170, which is good overall vs. my current role, but is (1) lower in terms of base vs. my current job (although bonus makes up for it) and (2) is just straight up lower than I expected (I genuinely thought it would be 95-100 base with the 100% on top...)

Am I completely out of touch here, or is this pay low vs. the market? Like I know this is still a lot of money for someone to be earning in their 20s, but I thought the pay would be higher...

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Comments (15)

Sep 11, 2021 - 3:48pm

This has been discussed about a week ago. UMM pay was usually about the same as IB pre-2021 raises, now slightly lower. Congrats on the offer and don't focus on fhe 10k difference now but make a career decision on what you want to do - banking or investing.

Sep 11, 2021 - 4:03pm

Pay seems to be in line with other UMM shops.

MM might be good option as well. Know a lot of places (e.g CapVest, Oakley etc.) that pay carry at a Assoc/ Senior Assoc level.

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  • Analyst 2 in IB - Cov
Sep 12, 2021 - 5:34am

Whats the standard progression for MM and UMM in London? And what is it for MF? Thank you

Also, when is carry given out? Senior Associate level?

  • Associate 1 in PE - LBOs
Sep 13, 2021 - 2:59am

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