ER Bonuses: 2012 
(Baboon, 102
Points)
on 2/18/12 at 2:45pm
How'd everyone do this go around? I get a sense that the street was very tough this year but all of the focus is on IBD and not ER so there's very few data points. I think it's helpful to collect as much comp info as possible to understand the health of our business and also for people to know whether they're fairly compensated. Obviously privacy/anonymity is important here but fill out something generic if you don't mind, as I have done below.
Firm Type: MM (Jefferies/RBC/Stifel)
Location: NYC
Role: 3rd Year ER Associate
Base: Raised to 90k from 80k
Bonus: 50k cash
what could a 1st year analyst
what could a 1st year analyst expect? is 50k the norm?
How about a first year
How about a first year associate (or whatever the position is called) out of college at a bulge bracket?
First year at a BB could
First year at a BB could expect 65-70k and bonus of 0-40k. There's no such thing as "the norm" anymore and that's one of the reasons I created this thread; to get a feel for ER pay on the street. On the lower end, some people have quoted all in pay at 40-50k for 1st years at smaller shops.
Firm Type: MM - competing
Firm Type: MM - competing with Jefferies/RBC/Stifel
Location: Midwest
Role: 2nd Year ER Associate
Base: Raised to 70k from 65k
Bonus: <20k cash
AVPs in back office jobs make
AVPs in back office jobs make more than this.
of course AVPs make more than
of course AVPs make more than this... whats the point?
I'm having a hard time even
I'm having a hard time even getting phone interviews for ER Associate positions with ~17 months FT experience in a MF capacity, passed Level I of CFA and currently studying for Level II.
They straight up tell me, "We want people with extensive modeling capabilities that can hit the ground running." How do people get jobs like this right out of undergrad?
My name is Nicky, but you can call me Dre.
I got my offer through a
I got my offer through a combination of networking + OCR.
Firm Type: Boutique Location:
Firm Type: Boutique
Location: South
Role: 3rd Year ER Associate
Base: $75k
Bonus: $75k cash
How about a 1st year analyst
How about a 1st year analyst at a HF?
per ardua ad astra
rjroberts1 wrote: Firm Type:
Firm Type: Boutique
Location: South
Role: 3rd Year ER Associate
Base: $75k
Bonus: $75k cash
Seems really high to me - but good for you!
Are you only 3-years out of undergrad or did you come into the industry with some relevant experience?
No i'm actually 4 years out
No i'm actually 4 years out of a Master of Finance program, did a year of banking before coming to ER.
Firm Type: BB Location:
Firm Type: BB
Location: NYC
Role: 2nd year (experienced)
Base: $135k
Bonus: $20k cash
These bonus numbers are
These bonus numbers are depressing me. I was told bonuses are down to next to nothing across the board at ER depts on wall street. Doesn't seem like that's the case?
Firm Type: Boutique/MM border
Location: NYC
Role: 1st year associate (3.5 years out of UG)
Base: $85K
Bonus: $5k
Maybe it's sample bias?
Maybe it's sample bias? People who are happy with their bonus are more likely to report it?
I'm in your camp - I WISH I got a 50K bonus so that I can pay off a huge chunk of my remaining student loans.
I thought the bull-case for my bonus 35K so I was way off the mark lol
DCFwacc, if you don't mind,
DCFwacc, if you don't mind, can you explain your path from undergrad to 1st-year associate?
My name is Nicky, but you can call me Dre.
KarateBoy you're probably
KarateBoy you're probably right. In my case I work at a very small firm thats completely energy-focused, so I wouldn't say that we're representative of the Street as a whole.
aempirei wrote: DCFwacc, if
DCFwacc, if you don't mind, can you explain your path from undergrad to 1st-year associate?
Sure.
Small private college in northeast, very average in terms of academic credibility and next to nothing in the way of finance OCR. I took a job with an investment data platform (one of Bloomberg/Thomson/FactSet) - figured it'd be my best shot at networking with AM and research guys, though it's by no means the kind of job one should strive for if you want to get into research. Did very well while there, got 2 promotions, sat for CFA level I. Started HEAVY networking last year while studying for Level II. Reached out to anyone and everyone - the few UG alum that made their way into finance, random linkedin connections, cold calling HR, etc. Ended up with a handful of interviews, and got 2 offers out of it, but it took a good 10 months of serious effort. The job I took was for a brand new industry vertical (initiating coverage) at a firm with a growing reputation in research and with a senior analyst with a good rep that came over from a BB. Started last June.
bump
bump
Second year
Second year associate
Nyc
Base to $90k from $80k
$35k bonus
In asset management (and in
In asset management (and in another country), so not directly comparable but I'll add it to the mix...
Firm type: Fidelity/TRowe/etc level
Location: Australia - keeping it broad
Role: 3rd year associate equivalent
Base: Raised from $100k to $110k
Bonus: $80k cash
Firm Type: MM
Firm Type: MM (Jefferies/RBC/Stifel)
Location: NYC
Role: 4th Year ER Associate
Base: 125k
Bonus: 20k cash
Firm Type: BB Location:
Firm Type: BB
Location: NYC
Role: 1st year ER Analyst (ie first year out of college)
Base: 70K raised to 80K
Bonus: 10k stub (20K full-year)
.
.
Uh Goldwing, you don't come
Uh Goldwing, you don't come in out of undergrad to ER Analyst.
My name is Nicky, but you can call me Dre.
aempirei... apparently, at
aempirei... apparently, at Goldman, you do...
Check out their GIR (Global Investment Research) or GSAM (Asset Management) division pages...