2009 Starting Salaries

barclays S&T is 60+15, same as banking. +5 if you got hired out of their summer analyst program

60k plus 10k "settling in award" which I guess counts as a signing bonus.

don't know if trading is the same for them...actually, i don't know if they honored their trading offers from summer...

UBS IBD 60k + 10k
Barclays IBD 60k + 15k

For ML, 12.5 only if you sign early. 70k for trading, unsure about banking (I'm not aware of them raising it to 62.5)

MS/GS for IBD & S&T: 70+10

Wonder if other firms will eventually raise theirs for the incoming to match the firms that are going to be paying 70k.

That would be a nice treat. I would much rather have a higher salary considering bonuses are going to be next to nil for the next few years.

GS/MS already pay their first year analysts 70k. This began late summer.
It was announced as a suprise,up from 60k.
Don't know how other firms can follow now- but who knows.

100k at a boutique for S&T which will remain unnamed.

100k for a first year?! How could any first year possibly warrant that kind of base, unless your not getting a bonus. You must have made it rain this summer.

citi banking is 65+10

Where did you get your info from b4f? Unless they pay their regional ibd analysts less, I'm pretty sure it's 60+10

sorry just confirmed from my friend and you are correct. she initially thought it was 65 for some reason but it is indeed 60+10 still.

Honestly I have no idea how they are willing to pay that much. I about choked when I was given the figure I was that shocked. All I can say is it really pays to have someone thats willing to go to bat for you. Develop those relationships as early as you can.

Im assuming this is your offer? Was there any talk about bonus?

Yes there is a bonus. I didnt go that in depth and still only have a few details. I am being offered to help form a desk with some senior guys that I know very well. This is all very informal and clearly not the norm.

heard that goldy tech / ops is 63/10.

last year, citadel ITAP & FTAP was 100/20, with 8 relocation. and 1st-yr bonus buckets were 40/60/100...don't know if that'll continue. execution was considerably lower.

Damn Citadel has a sick compensation package.

Turnover is high as hell but damn..

Most starting IB salaries I've heard are 60K+10

Does anyone know about DE SHAW?
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Barclays Finance 55K + 15K Bonus
Citi Ops 60K + 10K Bonus

MS s&t & IBD upped to 70 + 10 in response to GS

I guess that's much easier to do at a boutique (and an added benefit). There's no way I can convince the compensation committee at my BB to throw that kind of money my way.

Citadel and a lot of other hedge funds will not be paying bonuses for a while. Considering they are down significantly (Citadel down 30%), they have to make back their investors money before they pay out bonuses. This is called a watermark. Furthermore, there is even talk of a few going from 20/2 to 10/1, at least temporarily, to keep the investors from pulling their money. In this market, I would take an offer at a respectable market-making firm way ahead of an offer at a hedge fund (with a few notable exceptions).

just curious, trade4size, is this prop or agency trading? I assume a boutique would not have the capital to have a prop desk.

+2.5 if sign on early (for summer interns)

damn, i didn't know some banks were offering 70+10...hmmm, should've shopped around.

Both, but im not sure how that fits in with the legalities. I really dont want to say more as this is a public forum. Posted this mostly because I wanted to show others that "bigger isnt always better".

what about other prop trading in chicago?

their first year bonus buckets were 40/60/100 last year, like you aptly stated, I also doubt that this will be the case going forward...I know that their watermark problem is solved -- i think they are going to restructure their kensington/wellington funds, then reset the watermarks...I know they are moving to a different approach (they used to be one big-ass fof...but I think they are splitting it up now?).

My offer at Wachovia is currently 60/15 (10 if you didnt accept before Aug. 15th). Lets hope it stays that way :/

Well known NYC M&A/Restructuring boutique - 75/10

Top 3 NYC BB ER - 60/10

Just got an offer for Citadel FTAP
100k base + 20k signing + 8k relocation + variable bonus

there's a PE firm in Dubai that my cousin joined right after graduating from a target in the US. His base is 85K US + 10K sign on + car (non-taxable). Not sure what his bonus will be like but most likely around the 40-50K range.

The starting salary was raised to 70k for MER S&T? Was this for people outside the summer program? Summer hires were offered 60k/12.5k, were some notified that the salary was being bumped?

85k

MM Bank, Investment Banking Analyst, Generalist - 60k + 10

McK 70+10
DE Shaw 110+20

Citigroup Sales and Trading 60+10

mck really has a base of 70??

McKinsey doesn't have a base of 70, nor a signing of 10, so that is inaccurate (unless it was negotiated and not a standard starting BA offer)

B4f: really? I've seen contracts for D.E. Shaw and they offer less than 100K base. Unless they got bumped up due to small bonuses..
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so it seems that BB ops/fin makes pretty much the same salary+signon as the s&t and ibd? given that front office bonuses will be tiny next few years, how is this justified?

could this be Optiver?

i've heard different for De shaw actually. less than 110K but maybe it's a case to case thing.

probably, i've heard of people starting with much more than 110k.

Bridgewater pays 100k base, plus 20k sign-on
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