<p>OP, all you care about is making money. You don’t really want to make any difference in the world, do you? Think about yourself for a minute. I’m serious.</p>
<p>Well, we need to have a lot of money so we can bribe politicians in passing bills to help the poor and preserve trees and seal lions and all that good stuff.</p>
<p>I’m not an IB, but if you search “<a href=“http://www.vault.com/wps/portal/usa/salaries”>banking salary</a>” here a lot of bankers send in their actual numbers. might work for a good cross check against glass door. </p>
<p>good luck!</p>
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What does that mean? Please be specific.</p>
<p>All BB pay the the same base salary and signing bonus. Base was $70K in 2009 and signing bonus was $10K. The signing bonus has not changed since 2004. Annual bonus varies between groups and within that group, individual performances.</p>
<p>In the last couple of years, the all-in comp did not exceed $100K per year for first year analyst.</p>
<p>Just throwing it out there but I received an offer from a BB and $10,000 signing bonus plus I get a $5,000 rellocation bonus putting it at $15,000…my salary is going to be 70k…some of my friends who also interned only got 10k worth of a bonus for signing…i am curious though if someone can post an actual number for how much there bonus was for working or if they have heard a specific number from a 1st year analyst at a BB</p>
<p>Bonuses can vary as analysts are ranked from tier 1-3 or 4. Those who receive top buckets are superstars. Most analysts are tier 3 so you will hear numbers all over the place, since each bank is different and as I had mentioned, groups also differ within IBD, trading etc.</p>
<p>When Wall Street banks were flush a few years ago, top buckets were as high as $50K.</p>
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<p>Street was ~50k for 1st year Analysts this year.</p>
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<p>1st-2nd-3rd year Analyst base salaries.</p>
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<p>Street was ~130k all-in pre-tax this past year</p>
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Which bank? which bucket? which year?(1st , 2nd or 3rd). And source?</p>
<p>You do realize that for first year analysts hired in July 2009 don’t get their bonus till just last month, July 2010, 12 month trailing. All they get at year end is a “stub bonus”.</p>
<p>Let me say that first, I don’t know much about the salaries in IB, but judging by the FIRST post, I would think other non-VP jobs in IB would be much higher. I mean (to me), those max non-VP salaries is pretty damn low for someone who needed a 3.99999 GPA, 100 extra-curricula activities and a degree from a “target” school.</p>
<p>You have techies from STATE SCHOOLS with top-secret clearances making that much with just 5 years experience.</p>
<p>Enlighten me</p>
<p>giants, I see you got that figure from a blog. Several contacts including JPMorgan, Bof A, tell me the figures are lower.</p>
<p>Salary and Signing of 70k and 10k respectively are the norm.</p>
<p>Some banks pay first years in January (for essentially 6 months) others wait for a full year. </p>
<p>Full year bonus for First Year Analysts should be somewhere in 40-60k range this year. I can give you better color in January.</p>
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<p>Which bank: ~Street avg.
Which bucket: mid
Year: 1st
Source: Analysts I know at a handful of banks, including the one I worked at this past summer</p>
<p>FYI, many banks gave July to July bonuses</p>
<p>Read this article in conjunction: [2010</a> Investment Banking Analyst Bonus Numbers | Mergers & Inquisitions](<a href=“http://www.mergersandinquisitions.com/2010-investment-banking-analyst-bonuses/]2010”>http://www.mergersandinquisitions.com/2010-investment-banking-analyst-bonuses/)</p>
<p>Not sure if you’re familiar w/ M&I- it’s written by an ex-UBS Analyst</p>
<p>This one as well: [2010</a> Analyst Bonuses | WallStreetOasis.com](<a href=“http://www.wallstreetoasis.com/forums/2010-analyst-bonuses]2010”>2010 Analyst Bonuses - Any word? | Wall Street Oasis)</p>
<p>I know they’re blogs, but they’re really the most credible bonus sources to point to apart from hearsay</p>
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<p>The 130 I quoted is 70 base, 10 sign-on, 50 bonus. Some elite boutiques paid well above the 50, some banks paid below. 130 all-in is fairly accurate.</p>
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That’s fairly accurate. Someone could have enlisted into a MOS that would require a TS/SCI clearance right out of high school.
It is certainly not uncommon for “entry level” positions that require a pre-existing and current TS/SCI clearance to pay $100k+ base pay. Mind you these individuals probably don’t even have college degrees.
What I’ve heard that it is incredibly expensive for a corporation to sponsor someone for a TS/SCI clearance - may cost in the tune of $1-2 mil when it is all said and done. Therefore, employers will pay a heavy premium for those who already have clearances that are current. The easiest way to obtain these clearances is usually through military service.</p>
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<p>Heh heh…almost the truth. Here’s a secret…the federal government covers a good chunk of those costs to perform security clearance investigations. Yes, these employers will give you a sob story to make it seem like they pay so much for you (usually when you threatening to work for a competitor) but the real deal is the the “gubment” is financing a lot of the background checks.</p>
<p>I didn’t mean to sidetrack the thread because this is an IB thread, but after seeing how this IB recruiting is handled, I am asking myself “what is the big thing about it?”. If my only outlet to make BIG money is being a VP (probably super-hard to do), why put myself into going through some elaborate interviewing process where there is 100 applicants competing for the same position and interviewers want to know about whether you led the Jr. Hedge Fund club at your school, what books do you read, your family background, etc…all of that WITH a big debt of attending a Ivy/Target school.</p>
<p>When you can…</p>
<p>Get a Math/Computer Science degree from some school ranked 50th and get hired if you are in a high-demand I.T. area…then later on obtain a TS/SCI clearance and get the same money.</p>
<p>I’ll take the 3.0 GPA and experience a few all-nighter parties and/or oversleep some classes.</p>
<p>If we are talking about pure IB, the value is primarily in the exit… meaning HF, VC, PE or MBA. It’s like asking a newly minted AA player what he’s doing… except in this analogy the IB pay is still pretty good and the conversion rate to a “normal major league ball player” is much higher.</p>
<p>[Salaries</a> in Investment Banking](<a href=“http://www.careers-in-finance.com/ibsal.htm]Salaries”>http://www.careers-in-finance.com/ibsal.htm)</p>
<p>this looks about right to me.</p>
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<p>Ok…I see. So it is post-IB that pays off.</p>
<p>I understand now.</p>
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<p>FYI, I worked at IB before so I have a lot of current sources, not just hearsay.
I know you didn’t work at BB and you are not in the business school (Ross)of your undergrad, so you google a lot. And you got your job ( after soph year) by calling up local banks, not campus recruiting so your summer position is dubious at best.</p>
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<p>My son is an ex-GS analyst, undergrad Wharton, now working at a large hedge fund. I am not bragging but you are very condescending for a college jr.</p>
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<p>Oh yea?</p>
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<p>Why would that imply I “google a lot”?</p>
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<p>You clearly are bad at analyzing information. Where did you discern my year in school (I’m a senior, not a junior)? What leads you to believe that I got “[my] job” by calling up local banks, and not through campus recruiting?</p>
<p>Summer position dubious at best? Standard SA gig, complete with a return offer.</p>
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<p>Congratulations. I just finished an IB internship and have friends/contacts (who either just summered or currently work full-time as Analysts) at most of the major banks. What is condescending about anything I have said?</p>
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<p>This information is incorrect.</p>
<p>C-Rev information is correct (70K base and 10K for sign on). This past year(2009 bonus paid in 2010) some analyst did get 100% of their base, but not many.</p>
<p>This past summer interns got pro-rated 70K, some got housing subsidy (2K) and some got over time, but over time payment was nothing after 40 hours of over time.</p>