A spreadsheet making the rounds among investment banking analysts suggests bonuses this year will be strong but that Citigroup and Deutsche Bank will be the worst payers.
The origins of the spreadsheet are uncertain, but it appears an analyst at a U.S. bank in London obtained it and passed it on to colleagues elsewhere. Given that its information is in dollars, it's not a massive feat of deductive logic to suggest it originated on Wall Street.
If the spreadsheet is to be believed, investment banking analysts at Goldman Sachs, JPMorgan, Lehman Brothers, Merrill Lynch and Morgan Stanley are in line for the biggest payouts. First year analysts there are apparently on track to receive bonuses of about $88,000, second year analysts will receive about $108,000, and third year analysts will receive about $128,000.
Analysts at Citigroup and Deutsche Bank are reportedly on track for bonuses up to 12 percent lower. At Deutsche Bank, for example, first-year analysts are said to be on track for a "mere" $79,000 bonus.
Logan Naidu, a consultant at recruitment firm Cornell Partnership, says the figures seem a bit overoptimistic. "This suggests first-year analysts will be receiving bonuses that are 100 percent of base pay," she points out.