Which firms have the best/worst compensation for summer analysts?

As many of you have already received or accepted offers, I was wondering which are the best/worst paying (hourly and signing bonus) firms on the street.

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Comments (41)

Oct 18, 2017 - 3:53pm

For Summer Analysts, Evercore definitely has the best - 95K pro rated. However, I have heard that Evercore does not have a 401K match program for analysts or does not have one that's as generous as the bulges.

All other firms pay 85K pro rated for summer but differ in the housing stipend they give. DB does not provide a housing stipend, BAML does provide a housing stipend (not sure how much) and JPM provides a 2.5K housing stipend

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Oct 18, 2017 - 6:21pm

Pro rated salaries account for 40 hour work weeks, it should mention on your offer letter if you are subjected to overtime pay. I just know in NYC after 40 hours you get 1.5x your base hourly wage by law

Oct 18, 2017 - 7:44pm

I'm not going to comment on the legality of pay in NY but from experience the salary argument MarthaStrewartsAFelon made is valid. I had a salary as a SA this summer that wasn't dependent on hours. Know my friend also at a BB had an hourly one though, obviously comes out a better deal than the fixed amount. Curious as to which firms do which more broadly though.

Oct 18, 2017 - 9:58pm

From what I know/have seen for interns:

GS is 85k prorated + overtime but the overtime is like 23 an hour so doesn't help that much. 1500 stipend.

PJT & Lazard are 85k prorated with no overtime. No stipend for PJT, but 2k for Lazard

Moelis & Evercore are both 95k base - however, the hourly rate will not be so great because you'll work so fucking much

BAML has amongst the worst. You have to work a fuck ton of hourly hours to make it to 85 pro-rated which is what everyone else makes. You only make a reasonable hourly rate on the OT. 2000 housing stipend.

For FT this is completely different though:

  • BAML has some of the highest BB bonus pools
  • GS generally has mediocre bonus pools
    • PJT bonuses are ridiculous - like over 100% of base
    • EVR and Moelis just kill everyone - similar to PJT bonuses, 95 base
    • Lazard is pretty middle/low end of BB - workload adjusted comp worst on the street
    • MS handed out some rubbish bonuses last year, idk if it's a trend or not
    • Citi fucks some people over on bonus too
    • JPM is pretty solid, some significant variation
    • Idk about the European banks
Oct 19, 2017 - 12:58pm

GS does not pay overtime. That is 100% wrong.

BAML definitely is not amongst the worst. Friends there definitely got over time, and did just fine ($30/hr base for 40 hours, and $45/hour after).

Deutsche has the same pay scheme as BAML, but sounded more liberal about overtime pay.

Barclays I'm not sure.

Your FT stuff sounds right as far as I know. MS bonuses are usually on the lower end. They are not big on retaining analysts, and make it known (they prefer you leave to get paid more elsewhere, and then come back as a client - or love MS enough to stick it out and get paid more later). Citi has solid bonuses for top performers but is not afraid to lowball everyone else.

Oct 19, 2017 - 1:31pm

Those numbers are blatantly wrong for GS and BAML - my little brother got SA offers from both this year and his GS offer says they pay overtime of 23.something per hour and his BAML offer is 26.something base plus 35.something overtime.

Yeah the MS stuff and Citi stuff sounds consistent with what I've heard. One of my friends works at MS in Capital Markets and bitched about his bonus forever lol

Oct 20, 2017 - 12:41am

Quis enim qui sit deleniti sed exercitationem libero. Similique facere fuga ut explicabo et ut. Nulla ut explicabo quidem ut. Omnis veniam ratione eos maiores.

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