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Nope. 120-130K all in for top bucket in 2013, with some firms paying 140-160K (see BAML and Moelis). Also not true is the 2 year contract, as GS is moving towa

by ajiang 13y ago

Nope. 120-130K all in for top bucket in 2013, with some firms paying 140-160K (see BAML and Moelis). Also not true is the 2 year contract, as GS is moving towards a career model and away from a 2 year analyst model. http://www.mergersandinquisitions.com/2013-investment-banking-bonuses/ http://www.mergersandinquisitions.com/2013-investment-bankin... http://www.businessweek.com/news/2012-09-13/goldman-sachs-stops-giving-two-year-contracts-to-junior-bankers http://www.businessweek.com/news/2012-09-13/goldman-sachs-st...

rayiner 13y ago
How is "120-130K all in for top bucket in 2013" different from what I said (average just over $100k)? I'm thinking average at GS/MS/JPM for first years was ~$110k, no? As for Goldman, I'm aware they're getting rid of the contract, but it's still standard practice in the industry as a whole. Also, just because the contract is going away doesn't mean "up or out" is going away. At the end of the day you have to weight those high salaries for more senior bankers against the fact that the recruiting model of investment banks involves only a fraction of new hires making it even past a few years.
- ajiang 13y ago
  Just over 100k and 130k or $160k (Moelis) makes all the difference for what the parent comment said, which is that bonus is is 100-125% of base (65k)
  - rayiner 13y ago
    No, parent comment said: "Bonus is probably 100-250% of base, and a lot of times the 100% part is guaranteed." The plain meaning of that is that $130k all-in (100% bonus) is typical, and often guaranteed, with the top bucket being over $225k (250% bonus). With first-year salaries at Google, etc, pushing $120k+, that's a very relevant difference. It's not accurate to imply that a first-year analyst at a bank could make up to $100k more than that.
    - ajiang 13y ago
      You're right, I misread the top end of that range. Top trading firms get close to that, (e.g. Jane Street), but $225k is probably pushing unlikely until your 3rd year.

by ajiang 13y ago

rayiner 13y ago

How is "120-130K all in for top bucket in 2013" different from what I said (average just over $100k)? I'm thinking average at GS/MS/JPM for first years was ~$110k, no? As for Goldman, I'm aware they're getting rid of the contract, but it's still standard practice in the industry as a whole. Also, just because the contract is going away doesn't mean "up or out" is going away. At the end of the day you have to weight those high salaries for more senior bankers against the fact that the recruiting model of investment banks involves only a fraction of new hires making it even past a few years.

ajiang 13y ago
Just over 100k and 130k or $160k (Moelis) makes all the difference for what the parent comment said, which is that bonus is is 100-125% of base (65k)
- rayiner 13y ago
  No, parent comment said: "Bonus is probably 100-250% of base, and a lot of times the 100% part is guaranteed." The plain meaning of that is that $130k all-in (100% bonus) is typical, and often guaranteed, with the top bucket being over $225k (250% bonus). With first-year salaries at Google, etc, pushing $120k+, that's a very relevant difference. It's not accurate to imply that a first-year analyst at a bank could make up to $100k more than that.
  - ajiang 13y ago
    You're right, I misread the top end of that range. Top trading firms get close to that, (e.g. Jane Street), but $225k is probably pushing unlikely until your 3rd year.