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
