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Analyst bonuses down, but analyst salaries up
1 July 2009By Sarah Butcher
COMMENTS
MY BARCLAYS CAPITAL BONUS : 3000. Performance evaluation, top of the range (A). Read all comments »After weeks of waiting patiently, we can now offer some insights into the state of the 2009 analyst bonus in IBD.
UBS and Citigroup have both announced, and the numbers aren’t particularly pretty. However, it’s less painful than it might be because salaries have increased to compensate.
According to persons specialized in the recruitment of analysts, bonus numbers at both banks are roughly similar as follows –
• Analyst 1: £10-20k
• Analyst 2: £20-30k
• Analyst 3: £30-45k
Needless to say, this doesn’t compare particularly favourably to 2008, when we understood that analyst bonuses at the likes of Goldman and Morgan Stanley were:
• Analyst 1: £16-40k
• Analyst 2: £20-45k
• Analyst 3: £40-60k
Equally needless to say, this year’s bonuses look even smaller compared to 2007’s, when we understood that they averaged:
• Analyst 1: £48k
• Analyst 2: £63k
• Analyst 3: £77k
All this would be enough to make an overworked 23 year old weep, were it not for the fact that salaries have been increased to (partially) compensate.
We’re hearing conflicting rumours on salary increases, however. On one hand, we understand that salaries for second year analysts are up a generous £10-15k. On the other, we hear everyone’s simply been shunted into the salary band above, equating to an average £5k increase. Let us know if you can elaborate.
COMMENTS
Junkbondage, Wed 01 Jul 09
What's the trend in markets? We never hear about markets!
Add your comment »whyOnlyIBD, Equities, Wed 01 Jul 09
Ditto the above. Always hear about IBD...never about markets - would be very interesting to hear!
Add your comment »22yo, 6 figure bonus, Trading, Wed 01 Jul 09
I don't believe these numbers for a second. There's no way at all that between 1st, 2nd and 3rd year, IBD pay only goes up by £10k or so - in Markets your bonus literally DOUBLES over the first 3 years - 50, 100, almost 200 is entirely realistic.
3rd year analyst on £77k bonus... just pitiful.
Add your comment »Junkbondage, Wed 01 Jul 09
I'm just starting in markets but I can't help but think it can only be the very top performers, on best desks, at the very top BBs (or liars) who are getting those kind of bonuses in markets.
I'm sure they exist but I'm more interested in what is TYPICAL?
curious, Derivatives, Wed 01 Jul 09
22yo, 6 figure bonus - are those figures (50, 100, 200) for FO market roles in general or specific roles within FO?
Add your comment »tyler, Private Equity / Venture Capital, Wed 01 Jul 09
any idea on level for vp's?
Add your comment »Kloot, Capital Markets, Wed 01 Jul 09
And please keep in mind how many fewer investment bankers there are about now as compared to then, these figures are a small pool split between even fewer people.
Add your comment »jjj, Trading, Wed 01 Jul 09
22yo...
you're talking utter, utter rubbish. just who on earth do you think you are?!
maybe, MAYBE you could be talking USD numbers, but even then i'm sceptical.
FDG, Investment Banking / M & A, Wed 01 Jul 09
22yo, 6 figure bonus - such a clown. How would you know? If you ask people who work in IBD teams then you will realise that those numbers look perfectly realistic. At my ex-shop bases went from £36k to £48k from Analyst 1 to Analyst 3 - with a lower bonus they have seen a pretty small rise of £1-2k in base. Bonuses actually not decided yet.
Add your comment »ty, Trading, Wed 01 Jul 09
vp
60-90 base plus 100-300 per cent bonus [£]
prob could get more at top of market at top shop on profitable desk