I'm looking for comp figures of product banking (Leveraged Finance, Structured Finance/Securitization/Securitized Products Group, Restructuring, Debt Capital Markets, Equity Capital Markets etc..) groups. Please don't provide coverage/industry groups, as there are several other threads where that dominates the discussion. I'm mostly looking for credit/debt related groups at tier 1 BB firms such as Structured Finance to be specific, but will like to see other product group figures as well. So feel free to post. Please list them in a similar format to the below:
Title: i.e. A1/2/3, Ao1/2/3, etc..
Bank type: i.e MM/BB/EB etc..
Bank Rank: i.e. Top/middle/bottom
Group: i.e. Lev Fin, Str Fin/Securitization, DCM, LevFin etc...
Group Rank: i.e. Top/middle/bottom
Individual Rank: Top/middle/bottom
Salary:
Bonus (and % cash):
Please note if you're not in a high cost of living US City (NY, SF, LA, Jersey City, Chicago, etc).
Thanks,
Mr. E
bump. would really like to see some numbers.
c'mon product bankers let's get this thread going.
Bump
Jersey City is a major city?
When I said major cities, I meant cities that are at the top COL in the country. Jersey City, (hoboken as well) and NYC are in an identical pay band due to similar COL with the likes of SanFran, LA, etc...
AKA a position there pays the same as in NY. I know this from personal experience at a leading asset manager, Big 4, and broker-dealer. I'm of the mind that the same probably goes for banks if they've set up FO teams there.
From friend of mine from a year or two ago, Associate 2 LevFin, 155k base, 125k bonus, 280k total comp, non-nyc office. Hope that helps.
Thanks. You know if he was mid/top bucket? And also how his group ranks on the street as well
NYC 1st Year - 10k Signing, 85k Base, 70k Bonus. Top.
thanks. group? and BB/EB/mm?
LevFin
In reality, product group comp is generally the same as coverage group comp across the ANL and ASO levels. Might see a slight discount at the VP level for DCM/ECM, with LevFin in line with coverage groups.
2nd yr ANL in ECM at bottom tier BB
$90k Base
$70k bonus
My buddies in coverage all got around 70 bonus as well, some 75.
Worth noting this was reportedly down ~20% from last year's numbers - we got dragged down by other areas of the bank
ECM got over 100% bonus (assuming 85k base as 1st yr, ~90k bonus based on 20% drop) last year at a low tier BB?
that's correct.
What are your hours like? What about your associates? Very interested in ecm.
Do you know what ecm pay is like for associates and higher?
bump
A1 at Mid BB Structured Finance
Base: 85k
Bonus: 65k
thanks. can you pm me?
Let's keep it public for the benefit of others in the forum. What's up?
I wanted to get more into specifics as to how the firm ranks in the general structured finance arena, and when you said mid BB if you mean (are you talking like a DB/BNP/Wells/CS). And wanted to see if this is CLOs, RMBS, ABS or CMBS... the latter 2 were hit much harder than the former. Also wanted to see if this is in a structuring focused or origination/banking capacity, and if its mid-bucket or top-bucket. Both of course are still IB but just wanted to get more into the details.
As far as I know BNP and Wells are not BBs so not sure what you mean - DB also remains a top 3 / top 5 (depending on product) bank in structured finance. Anyway, I’m at a bank that has traditionally been one of the fixed income powerhouses and consistently ranks at or near the top of the relevant league tables.
I’m more on the esoteric side of the equation (think special situations, real asset securitization, media/pharma/IP royalties, transportation, hybrid / mezzanine financing, etc), and within that firmly on the origination / structuring side of things - my role is a lot more IB than Markets, if that makes sense.
Top bucket but the variance between buckets is like 5-10k, so generally good comp across the board.
What do you mean by "ABS/CMBS was hit harder"? I would say ABS is on fire (slower compared to last year but is doing well), and CLOs are seeing a lot of activity especially within refis. In many ABS asset classes, companies are issuing like crazy, taking advantage of investor's hunt for yield and the favorable environment to securitize. Issuers that would securitize once or twice a year are now securitizing 1-2 times within 1-3 months because they need the financing and investors are chomping at the bid to buy.
Your statement about ABS is incorrect, and I would say that asset class is doing the best of them all.
What was your base & bonus this past year as A2 in Structured Finance?
bump
bump
Anyone have Comp numbers for associate or higher?
only 1 posted above
bump
Thought there'd be more product bankers than this
.
Bump
Paid this past summer -
Title: 1st year Analyst
Bank type: BB (JPM/BAML)
Group: LevFin
Individual Rank: Mid (I think?)
Salary: 85k
Bonus (and % cash): $60k (100% cash)
Was told this was flat from 2019, which was a little disappointing given how much we issued. Nevertheless it's understandable given the times and have zero room to complain.
Agreed, a lot of ppl are in much worse shape. Congrats
Any idea what a mid-bucket associate 1 in your group would have pulled in? 125-150k bonus?
100% would probably be top-bucket for jpm/BaML. More like 70-80% for mid bucket with 150k being standard base for Ass1
Bump
Associate 1 at top 3 BB in ECM bank, top bucket
Base: 150k
Bonus: 170k
What are your hours like in ecm?
Nice, congrats. At your bank did ECM get paid out better than DCM?
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