Banks' Pay and Bonuses

Originally Posted by Unregistered

Analyst FO, first year, about 5xk per annum. Feeling discounted.
Not sure should I stay or move

Seeking everyone's advice. On average 12 hours/day

Originally Posted by Unregistered

No one pays interns for 10k. That doesn't make business sense when you can get an experienced hire with that money.

Maybe not 10k, but goldman sachs apparently pays some of their interns 8-9k per month.

And I don't think you can get experienced hire with just 10k. The annual package for fresh grad is approx 150-200k.

Of cos, not all positions in investment banks are paid so well.

Originally Posted by Unregistered

Maybe not 10k, but goldman sachs apparently pays some of their interns 8-9k per month.

And I don't think you can get experienced hire with just 10k. The annual package for fresh grad is approx 150-200k.

Of cos, not all positions in investment banks are paid so well.

thank you for backing me up. it used to be 8-9k for interns in some BBs (like GS, MS etc; summer interns are paid a pro-rated rate of a first year analyst's package) but recently majority of the BBs cut back on their bonuses but increased base salaries. for those of you who don't know, for some of the BBs, pay scale is global. i.e. what a FO analyst gets in NYC is what another FO analyst gets in another city like HK or SG. if you do some research, you'll find that the BBs increased first year analysts' base from 70k USD p.a. to 85 USD p.a. which translates to about 115k SGD p.a...and there you have your close to 10k SGD per month pro rated to 10 weeks for a summer intern.

on top of that, it is well known that majority of the FO interns in BBs here in SG come from universities outside of SG (mainly the ivy leagues and other top tier schools from the UK, Canada etc), so there is also a relocation stipend and housing on top of the base salary.

hope this adds some insight. of course, this only applies to front office (IBD, S&T, research etc) roles.

Originally Posted by Unregistered

thank you for backing me up. it used to be 8-9k for interns in some BBs (like GS, MS etc; summer interns are paid a pro-rated rate of a first year analyst's package) but recently majority of the BBs cut back on their bonuses but increased base salaries. for those of you who don't know, for some of the BBs, pay scale is global. i.e. what a FO analyst gets in NYC is what another FO analyst gets in another city like HK or SG. if you do some research, you'll find that the BBs increased first year analysts' base from 70k USD p.a. to 85 USD p.a. which translates to about 115k SGD p.a...and there you have your close to 10k SGD per month pro rated to 10 weeks for a summer intern.

on top of that, it is well known that majority of the FO interns in BBs here in SG come from universities outside of SG (mainly the ivy leagues and other top tier schools from the UK, Canada etc), so there is also a relocation stipend and housing on top of the base salary.

hope this adds some insight. of course, this only applies to front office (IBD, S&T, research etc) roles.

Thanks for your insight. Does this apply to equity research too? Particularly for GS/JPM/MS.

Originally Posted by Unregistered

Thanks for your insight. Does this apply to equity research too? Particularly for GS/JPM/MS.

yes it does...the 3 BBs you mentioned have all bumped base salary from 70k USD to 85k USD.

Originally Posted by Unregistered

Seeking everyone's advice. On average 12 hours/day

what exactly do you do day to day and what type of a bank is this? mid market? regional?

BO.
6 years experience.
130k.
Bonus ~2 months.
8% increment.

Originally Posted by Unregistered

yes it does...the 3 BBs you mentioned have all bumped base salary from 70k USD to 85k USD.

Hi, are you aware how many mths of bonuses do the BB FO people get these days? Say the S&T, research guys in singapore.

Originally Posted by Unregistered

Hi, are you aware how many mths of bonuses do the BB FO people get these days? Say the S&T, research guys in singapore.

Where I am, some received 4 YEARS!

Originally Posted by Unregistered

Where I am, some received 4 YEARS!

How many mths do the associates and VPs get? Excluding the MDs