2023 Analyst Bonus Thread (IBD)
Well gents, it’s that time of year again. You know what to do. Good luck!
Year: [AN1/AN2/AN3]
Bank: [Name or BB/MM/Boutique]
Group: [Coverage/M&A/Product]
Ranking: [Top/Mid/Low]
New Base: $$$
Trending Content
| +214 | A Guide to HK Investment Banking - 10 Most Frequently Asked Questions (2024) | 64 | 13h | |
| +51 | What were traits of your favorite summer analysts? | 24 | 2h | |
| +48 | Best associate opp — GS or CVP? | 11 | 19h | |
| +44 | Internship 101 | 6 | 1d | |
| +42 | GS should remain the top choice for all undergrads interested in finance | 20 | 11h | |
| +40 | Wharton or Dartmouth/off the waitlist | 48 | 2h | |
| +38 | Should I move back into IBD for salary? | 21 | 1s | |
| +37 | MS & GS vs JPM | 22 | 8h | |
| +37 | EB Return Offer Rates | 30 | 1d | |
| +36 | Why does everyone shit on Houston/Dallas-What’s so special about NYC(genuinely curious). | 21 | 2h |
Career Resources
So what's the word on comp at Guggenheim? Have seen hardly any data points on WSO this year and ik comp came out a couple months ago.
It comes out at the end of the summer like most other places. But comp is usually high
Weird, I thought I heard they released bonus info in march/april
my class (at larger EB) seems to think numbers will be similar to last year's
Wow that’s a lot of confidence. I hope you’re right. From last year looks like the order of analyst bonus announcements from June to August was:
Mizuho (An1 Mid $55k)
Truist (An1 Mid $70k)
Harris Williams (An1 Mid $105k)
Stephens (An1 Mid $35k)
SocGen (An1 Mid $34k)
Barclays (An1 Mid $45k)
Cannacord (An1 Mid $130k)
BMO (An1 Mid $50k)
Cain Bros (An1 Upper Mid $105k)
RBC (An1 Mid $55k)
UBS (An1 Mid $60k)
Morgan Stanley (An1 Mid $45k)
Oppenheimer (An1 $85k)
Credit Suisse RIP (An1 Mid $60k)
BofA (An1 Mid $50k)
Wells (An1 Mid $70k)
Houlihan (An1 Top $70k)
JP Morgan (An1 Mid $40k)
TD (An1 $90k)
Deutsche (An1 Mid $60k)
Piper (An1 Mid $55k)
Evercore (An1 Mid $75k)
Moelis (An1 $95k)
Goldman (An1 Mid $65k)
Citi (An1 Mid $60k)
Stifel (An1 Mid $47.5k)
Nomura (An1 Mid $75k)
Rothschild (An1 Mid $75k)
Cowen (An1 Mid $45k)
BGL (An1 Mid ~$50k)
Jefferies (An1 Mid $50k)
Looked like MMs/Boutiques paid consistently better than BB last year.
Add Rothschild at 75 for mid
Truist has unfortunately delayed the bonus time line. They used to communicate numbers last week of June and then it’d hit the bank account June 30…Now they’ve delayed it to where it is communicated the first week of August and will pay out August 15…the analysts are not happy about it. Leadership said the delay was “to get a feel of what the street was paying”
Cannacord and HW wtf
Does Connacord usually pay this high?
For Mizuho first year, everyone gets 60k for the full year. 55 is just a 9th month stub according to the previous subs.
ok enough monkey shit I realized I misread, I'm sorry I am too tired to read properly. My deepest apologies
Wells is low at 45K -> my whole coverage group last year got 65k - 75k for AN1
include cowen at 45 mid bucket last year
Is canaccord in USD or CAD?
BGL?
BGL was ~50k I heard
For TD is the 90k mid bucket firm wide?
Feel like that number is off. Way too high
Source worked at TD and have many friends at TD
It’s correct for my old team last year. But mind you last year was not a normal year. So wouldn’t be surprised if lower this year
Any idea what top bucket for MS was?
Don't bother, Gorman Stanley can't beat GS/JPM on the lague table so they decide to be top 1 lowest paying BB
Bump
Anybody have a real data point to kick things off?
Yeah
HW An1 60k mid-top bucket non-Richmond office that had a good year fee wise. Pretty disappointed
Any idea what other first or second years got?
So $170 all in? Seems like a gift considering the current environment.
Heard mid bucket for 2nd years was just under 80K — consistent with what you heard?
From what I am hearing sounds like HW was $150K-$170K all-in for AN1 and $180K-$205K for AN2. It sounds reasonable given the macro environment but also down from last year when HW paid top-market bonuses
I’m seeing from people that have gotten numbers so far 165-185 all in for an1 and 185-210 for an2
Following
Some JPM 2nd year analysts gonna get severance instead of a bonus
AN3
SocGen
Salary: 110
Bonus: 100
All-in: 210
AS1: 150
Great number and congrats on the promo. Curious what bucket that was?
I didn’t realize SocGen was a 3 year analyst program. Is that a true 3 years on desk or more like 2.5?
I was a lateral into a bank with a 2 year program but the timing on the desk didn’t work for promotion at the true “2 year” mark. So have technically been at my bank over 2.5 years. Asking because I’m pushing for a higher bonus given I’ve spent the past 9 months staffed in the associate role but paid as an A2.
Thank you. Worked really hard for this job and it's great to see all that paying off. I wasn't communicated what bucket it was. But I know my performance reviews were very positive.It's 3 years. My understanding is it is a French thing. Could be Euro but I'm told it's French. Don't know anyone at my French competitors to confirm tho. If you start FT in July 2023, then you'll most likely see your associate promo become effective July 2026. Give or take a month or two.
As for your associate staffing despite being an AN2, that just shows your superiors believe in you highly and they just have to follow procedure with promoting you. They would’ve if they could’ve. But you’re killing it!
Congrats. Can you share if the $100 bonus is inclusive of any A2A bonus? If not, what did A2A bonus (if any) shake out to?
I do not believe this is inclusive of any A2A bonus
Anybody know where Analyst 1/2 bonuses landed at Socgen?
Big time numbers, gives me great pleasure
$100k bonus is a nice and very respectable chunk of change + promotion + raise + signing bonus im sure. Not sure if you’re happy with but I’m happy for you
I’m very happy with it. Some banks pay more but I work 50-65 hours a week
Congratulations on an outstanding bonus!
Do you happen to know how the corporate bankers got paid on your team around your level?
What office are you in?
Following!
Any updated numbers per chance?
Year: AN2
Bank: HW
Group: HC
Ranking: Mid
Bonus: 80 / All-In: 195 (for those going a2a there’s a 60k signing so would be 255 all in)
New Base: 175
$255k in your second full year of work after college, not bad at all
geeat numbers, congrats
Bump, any other banks announced bonuses?
any word on CVP?
What are analysts in Nat Res/O&G groups expecting this year? I presume just as good as last year given record revenue numbers
The problem is that bonuses aren’t significantly different between high and low performing groups, if different at all. If anything I think more Nat Res analysts will get top buckets compared to other groups max
At my group the communication has been it'll be better than NY but that overall the firm hasn't had the best year.
At most banks, analysts in busy groups essentially subsidize slow groups when it comes to bonuses as they are standardized. The way being 'busy' ends up benefitting a team is that they get more top bucket allocations to hand out.
Agree - applies to associates too and maybe VP at BB (ex. All or most juniors with exception to Jefferies houston with that setup)
Was told to expect bonuses down 30% from last year.
Ouch
Dang big if true
Bump
Gorman Stanley underpays as always... sigh
Are there actually numbers out?
MS bonus numbers aren’t out yet
any updates
RJ bonuses dropped about two weeks ago -
Top bucket, A2 bonus
$70k bonus so total comp of $180k
I believe most of the A1 and A2 bonuses were between ~$50k and ~$65k
Congratulations. Top bucket and $70k is super solid in a year like this. How does this compare to RJ bonuses last year?
Thanks! A1 top bucket last year was ~$70-75k so bonuses are roughly down $5-10k which isn’t too bad. But our group still got wrecked with pretty consistent 90+ hour weeks so didn’t feel like a down year
Personally, had only heard of RJ A1s getting between ~40k-50k this year. Interesting that that there would be A1s making 5k less than top bucket A2s..
I assumed he meant to say most A1s got around $50k and most A2s got around $65k. Otherwise it doesn’t make sense to present 1 range for both (unless RJ gives the same bonus to both…)
Which group? Any idea how much associates were paid last year?
I’m at Citi in a product group, MD told us to expect ~60k for mid (down about 15%) from year prior. Pay out is late aug.
when do you expect Citi to communicate
Mid aug, pay out last fri of Aug
Is this for A1 or A2? The list of bonuses on page 1 shows 2022 Citi A1 at $60k, so hopefully more in-line with last year?
A1, disagree with above chart. Mid was 70k last year, top was 90k. Citi paid well Vs BBs
Any idea why it’s late august compared to usual late July pay out ?
Maybe Citi product pays more than IB coverage, last year people clearly reported mid was $60k. If bonuses are really only down 15% that’s a great sign bros
Hsbc? NYC?
When can we expect CS / UBS to announce?
Bump
Rothschild?
BMO
Analyst 2; Top Bucket
Bonus: 72.5k
All-in Excluding Promo Bonus: $197.5k
Promotion Bonus: 40k
New Salary (An2 -> As1): $175k
Are you content with the bonus? How does it compare to last year for An2?
Congrats. How do you feel ab that
xxx
Holy shit congrats bro, clearing $200k as a top bucket a2a An2 in this market isn’t easy
Coverage or product?
Says coverage above
Bump - any more data points yet?
Heard some atrocious numbers from BMO…any truth to them?
Anecdotally have heard the same, but curious what the bigger dataset looks like
Confirmed.
Source = my tears.
Can you give a number?
Less than or more than 50k bonus, BMO An1?
Some second years in my group got 25k and lower. Heard through the grapevine that some in FC&R received as little as 5-10k.
Wtf do these guys have a history of screwing analysts?
Which group are you in? I’ve been hearing 60-70k for An2, but sounds like there may be a difference across groups
Believe that was first years, not second
Lots of BMO mis-info here …
Analyst 1 Bonus: 10 bottom / 30 middle / 50 top
Analyst 1 - 2 Base: 110 to 125
Analyst 2: 25 bottom / 45 middle / 70 top
Seems to be uniform across IB groups
That’s one of the biggest ranges I’ve ever seen
its makes sense from a company perspective to have such wide ranges in this environment
"Lots of BMO mis-info" ... proceeds to basically agree with what has already been said...
These buckets seem broadly true from what I have heard as well, though obviously not set in stone (I've heard 37.5 for first year, 60 for second)
Some additional info:
An3 base is 135k
A not insignificant portion of An2s had their promotion delayed. Unsure what the number is firm wide, but was about 50% in my group, and have heard similar for M&A.
Was mostly about the hysterics, garbage year garbage bonuses it’s the industry but yeah agreed with your numbers
Keep in mind, analyst base comp is significantly higher than it was a few years ago. Total comp really hasn’t changed much. Still blows but puts it in perspective a bit.
Also keep in mind inflation the past couple years. 160 all-in in 2020 would be like 190 today
Any info on pjt?
An2
RBC
Coverage
Mid bucket
65K Bonus / 170 all in
Fuck this bank. Still one of the only banks at 100/105 for base. Below street on base yet the seniors say they try to match “total compensation” by giving us a larger bonus, which clearly is a lie
I thought they had bumped base a little bit ago
Nope
Rbc analyst 3, $100,000 bonus
i was told mid bucket. Haven’t heard anything about other third years and curious what the range was? For context our base is 110 so I’m surprised to get such a high % of base in the current market environment, and also considering I got 85k middle bucket last year but am hearing middle bucket this year is only 60-65
Top bucket A2 pulled in closer to $95k bonus at RBC, there was a big spread between buckets this year
That’s amazing if true. That means experienced Analysts got over $200k, as they should.
Was this the case for multiple people? What were exact buckets if you know? Think mid was 60-65
What were the buckets if you know?
What were buckets?
Damn sorry man. In 2021 my mid bucket An2 bonus was $100K. And An3 was $125K.
coverage
an 1
mid bucket
$45k
rbc
Congratulations, bonus doesn’t seem too far off from last year. Are you happy with the number?
Any idea what range was for third years?
Last year it was 95K / 110K / 125K
UBS/CS London
A1 in a product group, 29k/26k (top/mid)
Isn't this more than the CS associates lmao
That's right, some CS ASO 1s given $25k paid in 3 installments over 6 months
Are you CS or UBS?
How does this compare to last year?
AN 1
BB
Coverage
Upper Mid
Bonus: 65k
Current Base: 110k
TC: 175k
New Base (AN 2): 125k
Pretty happy all things considered. Top rated analyst 1 on my team got 75k
Which BB? Great numbers for this year
Wow even better than what most BBs paid last year
Those are great numbers, congrats and fuck you
What bank?
Bump
RBC Canada
$120k bonus for second year analyst +$10k bonus for AS1 promo
bro what
Might be CAD - so about 90K bonus USD
MS #s out?
Curious as well...
Tomorrow
Out and disappointing
Disappointing af, probably lowest in the street..
Any figures for MS yet?
What was the Analyst 2 range at Morgan Stanley? Poster above said $35k-$65k for an1.
Top bucket Analyst 2 was $90k, and then there's quite a steep drop from there to the $60ks, $50ks, $40ks
Friend at a Canadian bank (mm)
an1
healthcare m&a
Don’t know bucket
75k
MS
London
A0
GBP22.5k
Lol I’d rather work in BBVA or some other shitty bank
me too
people flaming but for an as0 stub bonus this is considered high in ms
its a full year bonus :)
holy fk dealing with that MS culture to get slapped in the face with 20k. Are you in one of the sweaty groups?
From what I have heard, culture and hours totally suck across all MS groups in London
Any more figures? GS is next week
AN2
Boutique - Maritime / Energy / Transportation focus
Base: $90k
Ranking - Mid / top I guess - not enough juniors to bucket us, but yearly review was positive
Bonus: $150k
All in: $240k
New base: $90k - pay is just off analyst position. No changes based on seniority until promoted to associate, etc..
Repudiandae minus perferendis facere soluta. Temporibus ut vel esse cupiditate a quos. Natus eum earum consectetur ea. Blanditiis unde eveniet iure asperiores aut. Qui iure eos odit repudiandae doloribus soluta ullam exercitationem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
In a sit aut est non recusandae dignissimos enim. Atque officiis ut eligendi in iste expedita aut dolorum. Laboriosam tempore aut quis error voluptatem. Soluta quia perspiciatis qui deserunt ut voluptas iste. Mollitia ea quaerat sit maxime. Aliquid molestiae vel aut.
Unde aliquid excepturi velit possimus et in aliquam. Consectetur ducimus expedita aspernatur et earum voluptatum dolor et. Soluta eveniet voluptates ut voluptas perferendis quos.
Voluptatem voluptatem ut dicta quia cupiditate doloribus quia. Et consectetur soluta nulla voluptatibus. Aut expedita sed libero. Aliquam non quia nam.
Quas fugiat blanditiis et sapiente doloribus laboriosam corporis. Culpa neque facilis qui.
Aut dolorum dignissimos temporibus quibusdam. Quas minus labore maxime ipsa consequatur explicabo harum cumque. Omnis labore corrupti autem ducimus placeat ab officiis quis. Voluptatem atque optio exercitationem dolorem aperiam culpa quisquam. Qui nisi voluptatem repellat sit. Molestiae voluptatem eaque officiis vero.
Officia ipsum amet omnis at facilis eligendi voluptatem voluptatum. Provident aut accusamus neque reprehenderit sed. Est eos est velit quae illo in. Reprehenderit voluptas velit voluptatem. Sed deleniti et est dolore delectus quasi. Aspernatur molestiae veniam est.
Ea adipisci laboriosam ex nemo consequatur. Quaerat eveniet nam aut et accusamus dolore enim sit. Ipsum ipsa quos qui.
Voluptas quo rerum minima non totam sed odio corporis. Repellendus quibusdam esse ea qui qui et. Unde laudantium aspernatur ullam aut omnis aut doloribus unde.
Quasi consequatur temporibus praesentium modi rerum nihil. Est magnam dolorum quisquam labore fuga sapiente non voluptatem. Consequuntur ratione rem omnis aut. Expedita delectus corporis dolores illo. Ut repellendus quia beatae quo eligendi et.
Consequuntur aperiam autem rerum perferendis ut nesciunt. Ipsam odio animi quos. Possimus incidunt eveniet quidem voluptas.
Magni vel illum qui tempora. Aut qui eveniet et quidem dignissimos id. Qui sed aut sed consectetur voluptas. Nobis qui qui aut rerum voluptas nisi eum dicta.
Minus natus aut qui maiores voluptas sapiente qui quae. Non nihil non facilis sit ea maxime eum. Consectetur et atque qui quam sint.
Magni aut qui quasi soluta rerum est. Autem pariatur nemo id officiis.
Dolore est inventore sapiente quis animi sit. In iure ab aliquam fuga.
Non voluptatibus et aut eum nobis animi. Reprehenderit et nam soluta vel. Dolorem repudiandae adipisci accusamus culpa assumenda delectus aliquam.
Excepturi est vitae molestiae alias repudiandae magni corporis. Et et corrupti facilis repellendus mollitia ut quo provident. Ut eum qui quo velit recusandae esse deserunt impedit. Aliquam magnam est modi nostrum tempore voluptatem.