S&T juniors - how’s the comp bump this year?
All across the news about banks increasing analyst salaries to $100k and associate and vp salaries naturally further. But most of the news flow is in the context of IBD. Has any of this read through to S&T?
What’s base looking like and how has it moved YoY for analysts and associates?
I haven't heard anything nor do I expect to... my analyst class just started training. That said, I'm an internal transfer who has a higher base than the other analysts (>$100K) so it's possible that base raises were communicated to only true 1st year analysts... though seems unlikely I wouldn't have at least heard about it.
Bottom line is it's highly probable that the base bump doesn't apply to S&T.
Pretty ridiculous that markets isnt getting any base raises when they carried the banks throughout 2020.
Yeah that’s not how things work lol, you don’t get rewarded for a one off year, besides that performance has already been rewarded via bonuses.
only reason there are base hikes in IB and not trading is because the IB job market at the jr level is very tight for a variety of reasons (burnout, other industries, hottest lateral market in years), but those dynamics dont carry over to s&t
I hate that you're absolutely right. although the pay gap is getting ridiculous at this point - not like we can do anything about it though
and re: bonuses - bumper year but some shops still stiffed their people big time...BofA comes to mind
Mentioned on another thread but will post here too:
Fixed income S&T, Canadian bank, NYC office, bumps across all levels
Can you give more details or DM? In the same boat but have not heard this at my shop.
Interested in hearing this too. I hear rumors that analysts and associate employees have got base pay bumps at BB’s but nothing publicly firmwide. if anyone who’s heard can chime in
where?
I'm a banker at a Top 3 BB, though we're part of S&T. I haven't heard anything other than some bs regarding comp increases
JPM just announced increased comp for all FO Analysts to 100k, communicated through internal email
Confirmed for S&T? Heard this for asset management but didn’t know if it applied
Is this confirmed? The Domino that moves markets in all other banks please?
Yes its confirmed. Internal email was sent yesterday
How long do you think it'll take for other banks to match all FO positions since this seemed like a silent move on JPM's part? Probably not within the next few weeks but maybe by the end of 2021 in preparation for 2022?
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