2015 Compensation for Banking - MEGA THREAD

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.

Patently not a bonus if it's a set about of benefits that can be taken as cash. It's part of your package, but a bonus would be flexible and performance related.

Reply 41

samba

6

JSC is 86k pro rata + relocation (summer)
SIG is 80k pro rata + relocation (summer)

Rumours it can be individually negotiated to an extent, as it comes up at interview. Unsure if it varies between first and final years.

Reply 42

MAINE.

3

Original post by 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

lols definite BS. Market average base for 2nd year analysts is currently c.55k. No way a grad is making 58k base.

Either you're lying, or whoever sets comp at your firm is a moron. I'm inclined to believe the former.

(edited 9 years ago)

Reply 43

smashzeJ

1

Original post by samba

JSC is 86k pro rata + relocation (summer)
SIG is 80k pro rata + relocation (summer)

Rumours it can be individually negotiated to an extent, as it comes up at interview. Unsure if it varies between first and final years.

Jane street is the ****. Too bad you have to be a genius to work there

(edited 9 years ago)

Reply 44

Noble.

17

Original post by smashzeJ

Jane street is the shyt. Too bad you have to be a genius to work there

... Or good at probability.

Reply 45

smashzeJ

1

Original post by Noble.

... Or good at probability.

The no of imo medalists is too damn high

Reply 46

samba

6

Original post by Noble.

... Or good at probability.

Good at any sort of game theory, tech, or intelligence analysis really. I didn't learn so much about jane street, but at sig they are massively big on games, poker and sabermetrics [sports] for interns to get their teeth into. From what I garnered you don't really get into any real work (in either research or trading) and it's all fun and games. At jsc research & intelligence sit with tech though, so I imagine it's a bit different.

Reply 47

Noble.

17

Original post by samba

Good at any sort of game theory, tech, or intelligence analysis really. I didn't learn so much about jane street, but at sig they are massively big on games, poker and sabermetrics [sports] for interns to get their teeth into. From what I garnered you don't really get into any real work (in either research or trading) and it's all fun and games. At jsc research & intelligence sit with tech though, so I imagine it's a bit different.

I interviewed with JSC at the end of my first year for trading, got to the fourth round and the interviews were entirely brainteasers and probability questions. It's a fun and challenging process, but it's pretty awful doing maths over the phone. I looked at SIG back then as well, it does look good - I may apply :tongue:

Have you got an offer for SIG?

Reply 48

samba

6

Original post by Noble.

I interviewed with JSC at the end of my first year for trading, got to the fourth round and the interviews were entirely brainteasers and probability questions. It's a fun and challenging process, but it's pretty awful doing maths over the phone. I looked at SIG back then as well, it does look good - I may apply :tongue:

Have you got an offer for SIG?

Did you have the "internship opportunities smooth labour market transition blabla, we'd have to pay more full time if we take you as an intern. argue for being paid more than the basic expected" question (in the 3rd stage I think)?

And aye. I actually think it's easier to get an interview than at a BB, as they have a more intelligent recruitment approach. It honestly feels more like a tech company than a finance one in many ways. Arguably it is.

Reply 49

Noble.

17

Original post by samba

Did you have the "internship opportunities smooth labour market transition blabla, we'd have to pay more full time if we take you as an intern. argue for being paid more than the basic expected" question (in the 3rd stage I think)?

And aye. I actually think it's easier to get an interview than at a BB, as they have a more intelligent recruitment approach. It honestly feels more like a tech company than a finance one in many ways. Arguably it is.

Haha, I didn't get that. I take it with SIG, given that you don't seem to trade for the first couple of years the bonus is non-existent (which would explain the particularly attractive base)?

Reply 50

samba

6

Original post by Noble.

Haha, I didn't get that. I take it with SIG, given that you don't seem to trade for the first couple of years the bonus is non-existent (which would explain the particularly attractive base)?

Oh it's just a summer [non trader] job, not a full time position unfortunately! But yea, I think it's 2-3 years before you'd get to do 'real' trader work. One of the problems is that they all handle massive portfolios. One desk (of a couple of traders) can handle an entire market or more. Not sure what tech get paid, but traders/research/intel all get pretty much the same base whilst an intern.

You save a fortune on suits anyway, given the casual dress code!

http://www.sig.com/people/meet-assistant-trader/

Read some of the others too, it's pretty cool.

(edited 9 years ago)

Reply 51

Hody421

15

Original post by samba

JSC is 86k pro rata + relocation (summer)
SIG is 80k pro rata + relocation (summer)

Rumours it can be individually negotiated to an extent, as it comes up at interview. Unsure if it varies between first and final years.

I thought Jane Street was H-F-T firm? They hire the top uni's quants if I am aware.

Reply 52

KLL

11

For my former employer - 1st year
European MM IBD
c. £50-5k base
Bonus range £10-30k
No sign on

Reply 53

gsmith93

Original post by samba

JSC is 86k pro rata + relocation (summer)
SIG is 80k pro rata + relocation (summer)

Rumours it can be individually negotiated to an extent, as it comes up at interview. Unsure if it varies between first and final years.

How did you get the numbers? I thought this is in USD...

Reply 54

samba

6

Original post by Hody421

I thought Jane Street was H-F-T firm? They hire the top uni's quants if I am aware.

Sorry, didn't see this before. Market Making is HFT by definition.

Original post by gsmith93

How did you get the numbers? I thought this is in USD...

Nah, it's like 140k or whatever in USD. Been >100k forever.

Reply 55

Commercial Paper

21

Original post by sertur91

are you 100% sure of the UBS figure?

as far as i know base salary is 45k almost everywhere for 1st year analyst in IB. obviously if you are including bonus the story changes.