DealBreaker BonusBumper 2007 UPDATE

Posted by Keith Hahn, May 15, 2007, 9:38am

The only real mover in the daily BonusBumper update is Wachovia, which several people pointed was not in the bottom bonus tier. This, according to the analyst program coordinator (den mother?), who at least said Wachovia was going to pay at the top of the market. Someone might want to tell this coordinator to relay to the higher-ups that Wachovia isn't quite at the top of the market yet (bump that bonus!), and that the bank's also committing the cardinal sin of breaking the $20k step rule. Maybe it's a below the Mason-Dixon line thing?

Still no word on the notable absences - Credit Suisse, UBS, Bank of America, Lazard, SUNTRUST

Send any info to : tips at dealbreaker dot com

Here's the updated chart, now with more tiers for your envious pleasure:

BonusBumper 5.15.07.bmp

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Comments

Posted by anon, May 15, 2007 10:46AM

so can someone please explain to me why these people are getting paid so much?

Posted by InIT4the$, May 15, 2007 10:55AM

b/c they are no risk-taking, high fee generating, excel monkeys. It's doesn't take a lot of people to work on most deals, therefore more $$$ gets spread b/w fewer people.

Posted by , May 15, 2007 11:07AM

how is lehman at the same level of piper jaffray?

Posted by COLA, May 15, 2007 11:44AM

And that Piper money goes a lot further in Minneapolis than in NY. Short LEH.

Posted by anon, May 15, 2007 12:43PM

no risk taking assumes that they would get paid less, smart guy. I'm guessing you are either a trader's assistant (you risky sob you) or some BSD's fluffer.

Posted by What?, May 15, 2007 12:46PM

THese numbers seem low actually, why only 20K more for a 3rd Year than a 2nd Year?

The post is right, these are low risk jobs. You want a high risk job go into trading/sales/ or the forefront of risk entrepreneurship.

No one is going to break the bank at 230K all in Comp before taxes in NYC. Lucky to save 90K of that

Posted by anon, May 15, 2007 12:53PM

The bonus increases are directly proportionate to the size hamster water bottle and feedbag they hang around the excel monkey's necks.

I would say though, that Wachovia Securities (headquartered in Charlotte, NC) has the best gig going. Good for you you cost-of-living analyzing SOBs ... now get up from your cubical, buy a boat, and go to the lake. Those people with long hairs, narrow waists and boobs .... those are girls.

Posted by DoubleDown, May 15, 2007 5:30PM

How much better do first year associate do?

Posted by Anon, May 15, 2007 8:00PM

What's the difference between a 3, 4 and 5?

Posted by Trader, May 15, 2007 11:19PM

they dont get paid a lot. Actually their hourly salary is lower than the hourly rate for a Mc Donald's employee...and worst...they do not eat for free

Posted by BSD, May 16, 2007 12:03AM

Trader - true on the first point, but all bankers get free dinners and lunches on weekends

Posted by What?, May 16, 2007 12:44AM

How do analysts make less than McDonald's employees?

All-in for a 1st year is > $150K. So, assuming 100/week, the hourly wage = $28 or so.

And yes, I'm waiting for a turn of a prospectus and hate my job no matter how much it pays...

Posted by PE VP, May 16, 2007 12:55PM

Are any of you Excel monkeys looking to make a move to the buyside? Our PE firm has $5.5B under management, average hours are 50/wk and is looking to add 2-3 pre-MBA associates from Top Tier banks this summer.

Posted by DoneWithIB, May 16, 2007 3:11PM

Where is the position located? I would be interested in more details, thanks

Posted by DoneWithIB, May 16, 2007 3:12PM

Where is the position located? I would be interested in more details, thanks

Posted by DoneWithIB, May 16, 2007 3:12PM

Where is the position located? I would be interested in more details, thanks

Posted by I'm in..., May 16, 2007 3:46PM

Also interested. How can I find out more?

Posted by anonymous, May 17, 2007 1:28PM

lena chen's sex and the ivy blog (redirected from gawker) has an interesting feature where if you try to submit the same comment more than once the blog recognizes it and does not post it. That would come in handy over here where first years about to shoot a load in their pants hit the post button six times without realizing that they've already posted. It's annoying AND rampant all over dealbreaker. GET ON IT BESS!

Posted by JustAnAnalyst, May 17, 2007 1:58PM

The answer to why these people get paid those amount of money is pretty simple - it's called market forces. When a team of 10 people brings in $20mm in revenue - that seems to be reasonable. Also, when you need to get to the office on a rainy Sunday to print 3 pages and send in a car to you MD because he can't print them or won't look at the electronic copy he has - you probably should be compensated for that is some way

Posted by PEVP, May 25, 2007 9:07AM

Position is located in Northern CT.

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