2015 Compensation for Banking - MEGA THREAD

Scroll to see replies

Well Barclays has already upped from 43k to 50k, so it'll be pretty interesting if the rest of the banks follow. Saying that, this is just for interns. As of a few weeks ago, the full timers hadn't heard anything. But I agree, if there's enough of a critical mass, they'll all be forced to follow.

That's interesting, but historically Barclays has always paid the best in London for BASE + SIGNING.

The problem with Barclays is that the Tier 1 banks know they're way better than Barclays.

Reply 21

surfmonkey

Firm: US Elite boutique
Summer/Full-Time: FT
Division: IBD
Sign-on: GBP5k
Base: GBP45k + 10k in RSU
Bonus range: in line with US offices

Reply 22

tamintl

Original post by surfmonkey

Firm: US Elite boutique
Summer/Full-Time: FT
Division: IBD
Sign-on: GBP5k
Base: GBP45k + 10k in RSU
Bonus range: in line with US offices

Nice

Can you offer any more insight into what RSU is and what this consists of

Reply 23

rdewa2

Firm: Citigroup
Summer/Full-Time: Summer
Division: Sales and Trading
Sign-on:
Base: GBP45k ( I imagine pay will be more in the US)
Bonus range:

Reply 24

surfmonkey

Original post by tamintl

Nice

Can you offer any more insight into what RSU is and what this consists of

restricted stock units

Reply 25

popo123

Original post by Oschene23

Summer figures for 2015 for IBD: (pro rata) that I know of:

JPM £42k
Nomura £45k
UBS £50k

Posted from TSR Mobile

UBS figure seems high, they're paying their quant trader grads on (one of their) top teams 45k + signing + bonus

Posted from TSR Mobile

Reply 26

Oschene23

Original post by popo123

UBS figure seems high, they're paying their quant trader grads on (one of their) top teams 45k + signing + bonus

Posted from TSR Mobile

Well that's a confirmed figure. Maybe its because trader bonuses can be far higher than the IBD guys?

Reply 27

CountInFives

Original post by tamintl

I noticed that most banks upped their analyst pay in the US to $85,000 Base. It's really annoying how London hasn't done the same, period.

All it takes is one tier 1 bank to up it and all the others will follow. That's what happened in the US - BAML upped to 85 and everyone else followed like sheep. Hopefully it happens in the UK.

BAML has also confirmed that 1st years get £50k in UK. So I guess its just a matter of time before the others also confirm.

Reply 28

MAINE.

Original post by tamintl

Hi all,

I think it would be very useful to have a thread that outlines the compensation packages this year. Obviously, hearing from people who have seen contracts would be best. To keep it structured, it would be best to use the following:

Firm:
Summer/Full-Time:
Division:
Sign-on:
Base:
Bonus range:

I'll kick it off...

Firm: RBS
Summer/Full-Time: Full Time
Division: Debt Capital Markets
Sign-on: £0
Base: £46,500
Bonus range: £0-£5000

All the best!

ayyy, good thing I didnt take my RBS offer then

Reply 29

tamintl

Original post by MAINE.

ayyy, good thing I didnt take my RBS offer then

Yeah likewise. RBS is a shambles

Original post by CountInFives

BAML has also confirmed that 1st years get £50k in UK. So I guess its just a matter of time before the others also confirm.

Ahh it's a bit annoying that I'm starting this year as the change won't come into affect before I start

Reply 30

sertur91

Original post by tamintl

That's interesting, but historically Barclays has always paid the best in London for BASE + SIGNING.

The problem with Barclays is that the Tier 1 banks know they're way better than Barclays.

I think Barclays move goes in the right direction. the last 12 month have been a nightmare for the bank. huge cuts in the Investment Banking and WM divisions, plenty of senior management gone. I also heard from a classmate who interned there last summer that culture and "atmosphere" did not seem great over there (but that is just an isolated opinion of course).
They need to offer something more to attract new talent, someone is even starting to question the BB status of Barclays.

Original post by CountInFives

BAML has also confirmed that 1st years get £50k in UK. So I guess its just a matter of time before the others also confirm.

Credit Suisse grads starting summer 2015 will get 45k+6k sign-on. no idea of yearly bonus. it would be interesting to know what CS 2015 summer intern will get.

(edited 9 years ago)

Reply 31

Hody421

Original post by Liamp487

Firm: J.P. Morgan
Summer/Full-Time: Summer
Division: Finance, based in Bournemouth (London salaries may be higher)
Sign-on: £1000 relocation allowance
Base: £26,000 pro rata
Bonus range: N/A for internship

I just wonder, which uni did you go to?

and, was the base paid within 4-5 months?

Reply 32

Liamp487

Original post by Hody421

I just wonder, which uni did you go to?

and, was the base paid within 4-5 months?

I go the University of Southampton.

The internship is for the coming summer (2015) so I have not been paid yet haha

Reply 33

adsj

Do Summer interns get a bonus? if so how much and do they vary a lot from bank to bank?

Reply 34

Commercial Paper

Original post by adsj

Do Summer interns get a bonus? if so how much and do they vary a lot from bank to bank?

No - interns usually are not entitled to bonuses but you might get a relocation allowance.

Posted from TSR Mobile

Reply 35

Oschene23

Original post by adsj

Do Summer interns get a bonus? if so how much and do they vary a lot from bank to bank?

Yeah no bonus but around 1k of relocation allowance is the norm.

Posted from TSR Mobile

Reply 36

Matamaticas

I get an additional 15% on my pro-rated salary, which I can take as cash or 'benefits' - whatever that is. Basically a bonus...RBS Markets summer internship, by the way.

Reply 37

ollye

Firm: MM Boutique
Summer/Full-Time: FT
Division: IBD
Sign-on: GBP5k
Base: GBP58k
Bonus range: no guidance but expect about 30-50% of base

Reply 38

Garib

Original post by tamintl

Mate that seems different to what friends have received in RBS for Capital Markets Graduate - More like £45k base + 15% benefits fundings, which can be taken as cash and brings you base to around c.£52k + £6k sign-on

Reply 39

addneybanner

Nowadays, companies, corporations and even individuals in India need not have to run to banks for carrying each and every transaction and fund transfers. These days, it is turning out to be hard to find customers using checks for making payments. This is made possible because of the advancement in the field of information technology

andhra bank ifsc code Hyderabad