Super curious, what is the range for these positions?
I know in IB MD is the crazy high salaries. I couldn’t find much on trading though. Wall Street oasis only had a few data points, and the Goldman Sachs trading MD there was at 750, CS at 700
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When you join a company you get a phat grant, then refreshers. But the grant is where the money at since it’s all at one price (and price can rise)
Sounds like here, it’s like getting a new grant every year (at least when you do well), and then they stack up
Maybe in the WSO entries, it was first few years of MD hood and they hadn’t stacked. Or they had pretty uneven years
As a regular tech employee w/ RSUs your comp is based on what's targeted to vest in a given year because RSUs can be converted to cash on vest - there is no further deferral. And on-hire grants aren't awarded every year so those aren't "comp" rather mechanisms to create "comp".
Carry works slightly differently because you earn into your carry grant every year as it vests but only get cash flow a few years into the future when divestments happen. Carry in this regard is similar to private RSUs of late stage companies - you earn the RSUs every year but the liquidity only comes later.
I guess maybe the asset type matters - equities VP vs like mortgage / asset backed securities MD
From everting I’ve heard it sounds like if you are an MD and you stay for like 5 years eventually you’re bonuses are gonna stack on top of each other and then the yearly total comp will get pretty monumental