Analyst and associate base pay increase

Offer & Compensation
#1

i heard some investment banks increased analyst and associate base pay. is this true and does this apply to market analysts/associates as well?

#2

yeah that’s correct, several investment banks such as JP, Barclays and Citi increased analysts base by $15k and associates by $20k, but only in investment banking. I was talking to some people in finance who said this will take some time to be put in place and it certainly wonn’t apply to markets/sales & trading juniors, sadly :frowning: , at least not now

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#3

I see…that sucks but thanks for the info!

#4

Hi- what’s the current breakdown (before supposed increase) of the analyst and associate base pays at different levels in markets and IB at bulge bracket banks?

#5

so for Tier 1 investment banks, or bulge brackets, there is a slight difference in base within each title, but a significance jump between analyst and associate:

  • analyst 1: $85k
  • analyst 2: $90k
  • analyst 3: $95k
  • associate 1: $125k
  • associate 2: $140k
  • associate 3: $150-160k

one thing to note that associate 3 base salary can vary, really depends on how long the person was associate for.

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#6

thanks :slight_smile: also is it usually a year between each promotion ?

#7

Yeah it’s usually 1 year between promotions, but really depends on when you start. Some people join as analyst 1,2 or 3 mid year around may/june, so they only do 6 months, because all promotions happen around jan/feb.

#8

i heard from some friends banks might extend the same base increase to S&T analysts and associates, is that true?

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#9

Goldman Sachs Is Giving Entry-Level Bankers a Nearly 30% Raise - WSJ it seems like this applies to all analysts?

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#10

nothing confirmed yet, it seems like there is some talk about increasing base salaries for markets analysts and associates as well. The issue is the starting salary for junior in S&T was already lower than major tech companies like FAANG, and now it’s also lower than their M&A counterparts, and it’s getting more expensive to live in large metro cities like NYC. At some point, S&T will have to catch up

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#11

As expected and mentioned above, S&T will have to catch up to IB in terms of base salary. JPM just announced yesterday the increase in their S&T analyst base pay:

  • First year analyst: $100,000, up from $85,000
  • Second-year analyst: $105,000, up from $90,000
  • Third-year analyst: $110,000 up from $95,000

Apparently, this will take effect starting Feb.

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#12

awesome, thanks for the info!