Strong analyst bonuses on the way?

A spreadsheet that's doing 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 precise origins of the spreadsheet are uncertain. Suffice to say that an analyst at one US bank in London obtained it and passed it on to colleagues elsewhere. Given the information is in dollars, it's not a massive feat of deductive logic to suggest it originated on Wall Street.

Unlike other bank employees, analysts receive annual bonuses in the summer, and are told how just how big they're going to be in June.

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 at these banks are apparently on track to receive bonuses of 48,000, second year analysts will receive 59,000, and third years will receive 70,000.

This compares favourably with their colleagues at Citigroup and Deutsche Bank, who are apparently on track for bonuses up to 12% lower. First year analysts at Deutsche Bank are said to be on track for a 'mere' 43,000 bonus, for example.

Logan Naidu, a consultant at recruitment firm Cornell Partnership, says all the figures seem a bit overoptimistic. "This suggests first-year analysts will be receiving bonuses that are 100% of base pay."