As you might have heard–it’s comp day at Merrill. From the front lines:
First year equity sales and trading associates: 20k.
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sorry about your tiny pink compensation package bro.
Video comments by analysts from the 07 class.
http://www.youtube.com/watch?v=m1efwXkrOAQ
mer corp finance here…1st yr associate – 80K, anyone else got stats?
No subprime, or is that MD’s only….ha, ha
@4, you are a stud!! i bet you are hot too!!
Is the 20k a stub?
@4 What tier? Any idea on ranges?
mer 1st year associate in industry group – 90k cash, no stock, middle bucket
@4, you are a stud!! i bet you are hot too!!
is merrill pro-rated from July for first year analysts?
@4, you are a stud!! i bet you are hot too!! post pix please!!!
@4, you are a stud!! i bet you are hot too!! post pix please!!!
does anyone have any first year associate numbers?
Why are the daughters of the crooks always dogs?
Jimmy had one, so did Sandy
Quite the horse-face
http://www.nytimes.com/2008/12/19/business/19swanson.html?ref=business
no way 90k for 1st year associate, I’m calling BS
80K? What are those? Back office numbers?
equity sales is for poor shits
this is confusing beyond belief
a. Is there a difference between 1st year ANALYST and a 1st ASSOCIATE ?
b. Could someone post the HIERARCHY in these firms (along with approx year of exp to take these titles eg:- VP – 8yrs exp)
@20 be quiet
@17
it’s probably true. a former colleague,at a canadian ibank, made 120K. he’s a 2nd year associate. confirmed, last weeek.
they overpaid.
@20, I think analysts are straight out of undergrad, associates have MBAs.
i think.
@20 – are you serious? Go away.
What does “stub” mean?
@18, are you retarded?? Why do you think bonuses would be good. THE COMPANY WAS GOING TO BE INSOLVENT. Cant go handing out money to newbies or anyone for that matter. Bonus culture is OVER.
@ 20 – irony is that 3rd year analysts know more about how to actually do the job than 2st year associates in many cases
I like 20s suggestion.
Please could someone post the hierarchy here ? Makes understanding easy
@26…spot on. Today ML introduced it’s version of the TARP. Total Ass Rate Program
@ 20 – yahoo??
Someone looks into madoff’s apartment from across the avenue and dude is watching law and order or somethin
http://www.newyorksocialdiary.com/node/145339
@20
analyst- outta ugrad
associate- outta mba
and 1st year associate numbers should be stub(since they started work in july or august) but i call BS.
@20,@31: oh my God. You cannot be serious. If you are that far off the Street that you are unaware of this, could you please try the boards at Monster.com?
“stub” period is when analysts(undergrads) or associates(mbas,typically) start working in the summer after graduation. they don’t work a full year so they get a “stub” bonus for their “stub” year.
@20 Yes, the Analyst does the analyzing, and the Associate does the associating. That’s the main difference.
@20 et al – OK, here we go.
Out of undergrad, you immediately become an analyst. In your second year as an analyst, you are promoted to 1st lieutenant and can fly jets. After your 2nd year, you may either go to Harvard Business School, kill yourself, or accept another promotion to Power Forward.
Then in another 3 years, you become Managing Director. After successfully completing the obstacle course and kicking a 50-yard field goal, you are stripped of your MD title and become a 3d year associate vice president, where you remain for another 2 years before becoming undersecretary of pornography.
If you don’t then get fired, you can choose to be either CEO, CFO, or the security guy.
Hope that helps.
2nd yr analyst… top tier, $50 gift card to barnes & noble and new bofa coffee mug to remind me who i work for
@37— LMAO. HAHAHAHAH
@20 finance.failblog.com
NO models and bottles for you.
I’m an associate and don’t have an MBA. Don’t get me wrong, I’m really smart. It just proves that MBA school teaches you how to format power point and use big words to cover up your ineptitude.
@4, @10 Are you Associate 0 (started in July) or Associate 1 (finishing your first full year)? I’m assuming the latter because 80-90K stub would be great in this market.
3rd year analyst – global markets – $50K
#37–comment of the week!
normally don’t comment but
@37. quality.
I’m an associate and don’t have an MBA. Don’t get me wrong, I’m really smart. It just proves that MBA school teaches you how to format power point and use big words to cover up your ineptitude.
3rd year analyst – global markets – $50K
3rd year analyst – global markets – $50K
I’m hearing $25k for 1st year Associates, and am thinking the $80k figure is BS, or might be first full-year Associates, which makes a hell of a lot more sense. Even in the best times (06/07), stubs were $50/$45 or somewhere in that range….
Not getting fired is a pretty nice bonus this year.
Anybody hear anything about pay raise freeze, aka resetting salaries back one year?
I’m hearing $25k for 1st year Associates, and am thinking the $80k figure is BS, or might be first full-year Associates, which makes a hell of a lot more sense. Even in the best times (06/07), stubs were $50/$45 or somewhere in that range….
Not getting fired is a pretty nice bonus this year.
Anybody hear anything about pay raise freeze, aka resetting salaries back one year?
@4, @10 Are you Associate 0 (started in July) or Associate 1 (finishing your first full year)? I’m assuming the latter because 80-90K stub would be great in this market.
@4, @10 Are you Associate 0 (started in July) or Associate 1 (finishing your first full year)? I’m assuming the latter because 80-90K stub would be great in this market.
how many spirit points do you get for completing the obstacle course and making the field goal?
There is no way the 80k number is for first year associates (joined in August). Especially for MER this year…
@50 – That’s quality work
@54. 27 Spirit points. Unless you chose to fly jets, in which case you will receive pi.
Any word from MER FIG?
Wait till the thundering turd get a load of BOFA. Gonna be hilarious
So is this a temporary drop, or signs of more to come? I think returns will continue to dry up into the new year, firms will continue to suffer, and layoffs will continue.
http://deltahedged.com/
Full bonuses are being paid out to eq rsch analysts who were laid off last week to mitigate litigation risk
LOL 20k. You can buy a Honda Civic with that!
The $80k has to be for first non-stub year. Many people are confused as to whether an associate who goes from stub year to full year gets called a “1st” or “2nd” year associate. I don’t even know the real answer. The point is that $80k can’t be a stub, which last year was $45-$50k.
The stub is more like $30-$35k this year (BMO was $35k).
The first full year bonus is being quoted as low as $80k (someone citing MER) and as high as $120k (citing BMO). This range is roughly 50% below what an equivalent-ranked associate made last year in bonus, so they make sense.
80k/90k is first full year, not stub year. Stub bonuses were 25k.
anyone from ML CMBS get a bonus
@37 Well done.
@20 Don’t be upset because your bonus was a company stress ball and a coupon for a free $5 Footlong.
Did anyone in Real Estate get a bonus at ML?
that group was let go
things always come around. but. in the tech bust/last recession, bonuses dropped in ’01, ’2 and ’03, so it could take some time
Did anyone in Real Estate get a bonus at ML?
@49 — Absolutely no raises were allowed. If you were “promoted” it was in title only. The BAC “comp team” will decide 1st who they’re going to keep, and 2nd how much they’re willing to pay you.
so yes, you could have been promoted to VP this year and find out in March that you will be making significantly less than you did in 2008.
and we all know how notoriously cheap BAC is…
USA 1st year president here… 400k & 2 auto companies, anyone else got stats?
MER FIG LN here.
VP , got 270K, down 50% from last year.
I am from the top drawer, I guess the bottoms will get as low an amout an assoc was getting last year
@68 – still some there buddy
Go sit on your thumb and rotate
The 80 and 90k associate bonus figures are accurate, but they are most certainly NOT stubs.
BMO always overpays, what is their deal? i used to think they were jokesters but i am thinking i should start watching hockey and go work for a canadian bulge bracket. just writing that made me cringe. hell i do not need to work anymore for smart MDs that know exactly the number that i will take to stay on one more year…
@76 very funny. me too- seems they always know the EXACT number it takes for me to suck it up again. it never fails.
TCH MNY back in da house
ML CMBS 2nd year VP and I got 600K baby!!!!!
Anyone have stats on the NY Dept of Labor bonus program? $405/week is fine but there’s gotta be a year-end bonus even if it’s stub, right? Perhaps I have to wait until a full year plus of unemployment to rake in the big bucks.
3rd Yr Assoc – top bucket – 160K cash + 30K stock
What’s the deal with research bonuses? analysts and associates?
Ridonkulous. Fired in November. Everyone at ML sat around the entire year, waiting for Thain, Thain’s new hires and ability to transact to join. Once they became part of the team, we still sat around. They sat around as well. Firm had bigger problems like raising capital, inflating asset prices to stay solvent and avoid brokerage accounts from leaving the firm. Overpaid many new senior guys when the supply of workers is at an all time high. There is no real leadership. Tons of legacy folks still have job security, when they made a bad market situation worse. Entire floors are quiet, specifically 7 and 9. It’s funny reading that bonuses were 50% of last year’s levels for working an additional month. It’s also funny because a bonus is for performance. If we look at in on a relative basis, employees should actually pay the firm. That’s all I gots.
Ridonkulous. Fired in November. Everyone at ML sat around the entire year, waiting for Thain, Thain’s new hires and ability to transact to join. Once they became part of the team, we still sat around. They sat around as well. Firm had bigger problems like raising capital, inflating asset prices to stay solvent and avoid brokerage accounts from leaving the firm. Overpaid many new senior guys when the supply of workers is at an all time high. There is no real leadership. Tons of legacy folks still have job security, when they made a bad market situation worse. Entire floors are quiet, specifically 7 and 9. It’s funny reading that bonuses were 50% of last year’s levels for working an additional month. It’s also funny because a bonus is for performance. If we look at in on a relative basis, employees should actually pay the firm. That’s all I gots.
1k
1k
Crazy – 80k was top first-year ANALYST bonus in July 2006…
@86, it was 90-95k for top first-year analysts in July 2007 and ~85-90k for second years a few months ago. Newly minted MBAs are just behind the 8 ball. Sorry.
Look at it on the bright side – because most tax revenue is from high earners, the government gets hit even harder. I guess they’ll just go print more money or Bloomberg will have his minions scour the subways for change.
MER = shit
do i get a toaster with that savings account?
at least montage got 50million to sit around.
at least montage got 50million to sit around.
@37,38,66: well done.
@37,38,66: well done.
@37,38,66: well done.
@20: you should ask santa for “idiots guide to wall street” for christmas.
@37,38,66: well done.
@20: you should ask santa for “idiots guide to wall street” for christmas.
@37,38,66: well done.
@20: you should ask santa for “idiots guide to wall street” for christmas.
@37,38,66: well done.
@20: you should ask santa for “idiots guide to wall street” for christmas.
1st year analyst – 140K bonus. yippie.
FYI for anyone who cant tell 78 was a joke
analysts were not paid now.. they are paid in summer.
4th year analyst, 190K…
you will get nothing
bs – analysts get paid in the summer.
Real estate (not CMBS) got bonuses. about 50% from last year across the board – Analyst to Director
I heard CMBS group got nothing.
Salary freeze across the board (including promotions)
4th year analyst??? Do they really have those? Isn’t there a problem if you’re still an “analyst” after four years?
8th year analyst – $375k
ML…you think your bonuses are down now wait until you get to BofA. The bonuses you get this year will be something to be ecstatic about compared to BofA bonuses in a great year. Kenny boy didn’t refer to BofA as the Walmart of the street for nothin’!
anyone know what admins to senior people make there? salary & bonus?
@109
Yes, I do.
#109) they make 30k and 1k bonus…that’s about all they’re worth
is that why they buy their cfmb’s at Payless?
mer associate stub was 25k
all the comments i-banking/research? only sales/trading up top? what about others?
No, 41/46, business school teaches people like me to manage people like you. As far as Powerpoint skills, they’re pretty much a prerequisite for getting in. I generally find smart people don’t brag that “I am very smart,” especially those who don’t know enough about blog design to avoid double posting.
*know not don’t know
We rejoice cause the hurting is so painless from the distance of passing cars.
FIG VP 450k bonus
FIG VP 450k bonus
avp nada …
backoffice vp 15k
senior specialist…80K bonus. not disappointed.
cmbs associate, 90K. down from last year.
Real estate division. We have 7 ds/mds, 2 vps. 3 legacy directors/vps and 3 new md/d…4 analysts and associates. 2 vps. bonus was 75% of last year, but I was promoted. happy to get anything, considering we had 0 productivity this year. I’d like to give a shout out to the FED for bailing us out and paying us more than the rest of america, while contributing less. In fact, taking away from taxpayer’s wealth (via homes/future taxes). Glad I’m on this side of the transaction.
123 Please explain. Its been an extremely tough year in MBS. Did the firm really make any money there? Yet sounds like yr just down a bit.
Bone-us…flat to down 100%
merrill is boning us, as well as, all other wall street firms paying out while taking gov’t handouts. i like that 126.
how badly has “I want to be Twayda.” boned FX this year?
Someone please explain what “@ some number” means? The time that they posted?
BOA: first yr associate…80K…thanks US govt to give them money to pay bonuses….
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