☰ Menu eFinancialCareers

GUEST COMMENT: Bank by bank, here’s what analysts were paid this year

It’s been a mixed year so far: equity markets have swung wildly, M&A deal volume is currently down, but M&A by revenue generation has been up. We’ve had two years to get used to living in a world of uncertainty and it seems that we’re all slowly adapting. Or maybe we’re just too tired to keep worrying about it?

As bonuses have been announced, we have been steadily exercising our network to gather enough sample data to make a comparison of numbers accurate and worthwhile. The headline news? Nothing much has changed since last year -the total comp numbers are ever so slightly up. Enough to buy you a better watch but not enough to get you a faster car.

The recruitment market seems to be following the seasons. We started the year slowly, cautiously emerging from our winter hibernation, with the Bulge Brackets and boutiques making key or replacement hires. Spring brought with it renewed optimism and recruitment volume picked up significantly across the board. Summer saw us blooming, bringing with it some much welcome sunshine and stories of growth. We were back in full swing! Sadly, it didn’t last long, with summer ending early and autumn bringing news of redundancies across almost all of the large investment banks and news of cost-cutting more generally in The City.

However, the slack has been picked up slightly amongst the boutiques and more niche players, many of whom have grown their market presence significantly over the last two years. The value of entrenched relationships and stable platforms has never been so important.

The story is much the same within alternative investment recruitment. Private Equity and Hedge Funds have seen some movement but largely within the industry. Cross-industry moves are rare at the moment and whilst there will always be some junior hiring, it remains selective.

So, how will the rest of the year play out? I’ll end by slightly misquoting the classic Bette Davis line in All About Eve. “Fasten your seatbelts, it’s going to be a bumpy ride!”

Logan Naidu
Partner
September 2011

Analyst 1:


Barclays Capital

Mean base 45k

Mean bonus 28k

Mean total compensation 73k


Citigroup

Mean base 45k

Mean bonus 27k

Mean total compensation 72k


Credit Suisse

Mean base 45k

Mean bonus 30k

Mean total compensation 75k


Deutsche Bank

Mean base 42k

Mean bonus 30.5k

Mean total compensation 72.5k


Goldman Sachs

Mean base 42k

Mean bonus 33k

Mean total compensation 75k


Jefferies

Mean base 42k

Mean bonus 33k

Mean total compensation 75k


JP Morgan

Mean base 42k

Mean bonus 34k

Mean total compensation 76k


Macquarie

Mean base 45k

Mean bonus 21.5k

Mean total compensation 66.5k


Morgan Stanley

Mean base 45k

Mean bonus 42k

Mean total compensation 87k


Nomura

Mean base 45k

Mean bonus 31.5k

Mean total compensation 76.5k


Rothschild

Mean base 45k

Mean bonus 24k

Mean total compensation 69k


UBS

Mean base 45k

Mean bonus 32.5k

Mean total compensation 77.5k

Analyst 2:


Barclays Capital

Mean base 50k

Mean bonus 41k

Mean total compensation 91k


Citigroup

Mean base 50k

Mean bonus 36k

Mean total compensation 86k


Credit Suisse

Mean base 51k

Mean bonus 53k

Mean total compensation 104k


Deutsche Bank

Mean base 50k

Mean bonus 49k

Mean total compensation 99k


Goldman Sachs

Mean base 50k

Mean bonus 43k

Mean total compensation 93k


Jefferies

Mean base 50k

Mean bonus 40k

Mean total compensation 90k


JP Morgan

Mean base 50k

Mean bonus 46k

Mean total compensation 96k


Macquarie

Mean base 50k

Mean bonus 30k

Mean total compensation 80k


Morgan Stanley

Mean base 50k

Mean bonus 46k

Mean total compensation 96k


Nomura

Mean base 52k

Mean bonus 34k

Mean total compensation 86k


Rothschild

Mean base 55k

Mean bonus 27k

Mean total compensation 82k


UBS

Mean base 50k

Mean bonus 45k

Mean total compensation 95k

Analyst 3:


Barclays Capital

Mean base 57k

Mean bonus 58k

Mean total compensation 115k


Citigroup

Mean base 57k

Mean bonus 55.5k

Mean total compensation 112.5k


Credit Suisse

Mean base 57k

Mean bonus 55k

Mean total compensation 112.5k


Deutsche Bank

Mean base 57k

Mean bonus 56k

Mean total compensation 113k


Goldman Sachs

Mean base 57k

Mean bonus 58.5k

Mean total compensation 115.5k


Jefferies

Mean base 57k

Mean bonus 43k

Mean total compensation 100k


JP Morgan

Mean base 57k

Mean bonus 56k

Mean total compensation 113k


Macquarie

Mean base 60k

Mean bonus 54k

Mean total compensation 114k


Morgan Stanley

Mean base 57k

Mean bonus 62k

Mean total compensation 119k


Nomura

Mean base 60k

Mean bonus 60k

Mean total compensation 120k


Rothschild

Mean base 62.5k

Mean bonus 45.5k

Mean total compensation 108k


UBS

Mean base 57k

Mean bonus 53.5k

Mean total compensation 110.5k


This survey was conducted using a sample population from our network; actual figures across institutions may differ.


Established in 2005, The Cornell Partnership works from Graduate to sub-Director level, identifying and assessing rising stars and future leaders.

The company operates across multiple sectors and functions, delivering three types of recruitment solution: outsourced on-campus recruitment, lateral recruitment and executive search. If you would like to discuss further, you can contact Logan Naidu at
logan@cornellpartnership.com

Comments (19)

Comments
  1. HSBC?

  2. Is that only for Front Office Analysts?

  3. @Paul – Yes, this is for analysts in M&A.

    Sarah, Editor, eFinancialCareers Reply
     
  4. Two different figures for Rothschild Analyst 1? Shurely shome mishtake?

  5. @Escondido – This has been corrected.

    Sarah, Editor, eFinancialCareers Reply
     
  6. Banking doesn’t seem lucrative to me…..

  7. could this be transposed to DCM analysts?

  8. would rather create a company

  9. Citi N3 is wrong – same as N2

  10. Citi numbers for 3rd year analyst are wrong. Salary and bonus

  11. @Correction and FYI – thanks. It’s been corrected.

    Sarah, Editor, eFinancialCareers Reply
     
  12. can we pls also have “average weekly hours”

    no point earning 75k if u work 75h

  13. I would be also interested in the HSBC numbers. I’m wondering how much does the proclaimed work-life balance cost them..

  14. In Zurich an assistant to Private Banker earns 70-80K GBP (100-120K Swiss Francs), without any bonus, and a tax of only 20%… London is absolutely not attractive anymore, property prices are inflated, salaries are low, taxes are increasing, competition for jobs is enormous + food and transport services are really bad, while crime is rising yoy. Generally quality of life not is worse than in many other European cities.

  15. banker, you know where to foxtrot oscar then.

  16. Banker “London is absolutely not attractive anymore, property prices are inflated”

    you having a laugh mate, not sure when last you checked the cost of property in switzerland… heck i could get a 3 michelin star meal in london for cheaper than a geneva bic mac and fries (supersized)

  17. @banker: drop “European”. Because, internationally, Europe is pretty bad overall.

  18. Hahaha, all the boys getting girls’ salaries… Go home and watch banking become a women-dominated profession!

  19. i agree with rapo, banker guy is talking crap.

The comment is under moderation. It will appear shortly.

React

Screen Name

Email

Consult our community guidelines here