Saw in the press that JPM, BoA, and Barclays have increased junior i-banker base salary by $15k. That means 1st-year analysts' base will jump from $85,000 to $100,000. 2nd-year analysts will go from $90,000 to $105,000 and 3rd year from $95,000 to $110,000. I believe associates and VPs are getting like $25k bumps too. Was curious how y'all feel about this. I still think it's not enough considering the 100 hour work weeks (this applies to front office folks). Are you satisfied? Do you think Goldman will follow eventually? PS: blind tech nerds- please stay away from shilling on I banking pay/titles if you don't have any idea how investment banking works. Ex-bankers in tech / buy-side, please chime in!
Just to confirm, is this specific to NYC?
I believe in JPM it was specific to all of US Front office employees only. Us working in tech outside of FO will of course only get peanuts 🥜
Exit opps are huge for IB front office. Can easily crush swe TC
Not enough. Investment bankers are overworked. I work only about 20 hours a week, almost no stress and make just as much as them. If you rotate around different businesses within the banks, you'll see that plenty of people are doing much easier and less stressful work but making just as much.
Maybe at the analyst level. Once you get to associate the bonuses start blowing away the others.
This is total BS. Associates in IB get 3 times as much as associates in IB Tech roles. I did tech at GS for 2 years before moving to the IB side
BofA was actually 10k but I’m chilling
Every year 5k hike. Even faang is not giving😀😀
Can anyone confirm if sales and trading are included? Underpaid for years
just waiting for GS/MS to follow suit, or else myself and my coworkers will lateral
Citi joined the bandwagon last week
Is Citi increasing the pay of their first year analyst class that start in mid-July
As an accountant working 80+ hour weeks starting at 60k as first years with 5-10k raises per year, sincerely, fuck anyone whining at all about making 100k for a first year position lmao
I totally understand your frustration - I do. But you knew what you were getting into. IB enjoys a reputation of high pay for hard work and that’s not always been the case lately.
Yeah totally agree, lived with an accountant my first couple years who worked closer hours to me than anybody else for half the pay. But also not sure what he was expecting…
BofA increased by 10k. It's only 2 years for analysts. Anyways it's not enough
I like your P.S.
How do you get that /Eng in the handle?
It's on the same page where we can change username. Under "job" field.