Supposedly Citi 2nd year second tier S&T analysts are “pulling” 60k bonuses. For those keeping track at home and believing these numbers, this would be in line with the $42k goody-bags being awarded to the Big C’s second tier first year rainmakers.
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
Furrst bitches!! citi sucks and 60 k is not a lot for a watch.
WTF?
You like that, T. Geith?
-Vik
$30K after taxes. $0 after anal cancer treatment from being pounded in the ass all day long by MD’s.
My watch is worth more than Dennis Kneale’s life.
meep meep meep
“second tier first year rainmakers”
Can I get this on my business card, or maybe a desk plaque?
What’s the base at Citi? Are they getting 35K like some of the small shops or 60K?
@7, is that a serious question? Bulge brackets don’t pay 35K base to janitors.
What I do on my own time is none of your business.
#8 is that a serious answer? C isn’t bulge bracket
My bulge alone is worth $35k.
CG
@7
go build a bridge bonehead
@10
who is, baller?
@10, you sir are a moron
Aren’t all first tier analysts at C second tier?
BS. #’s aren’t out yet. Just which tier you are in (5 tiers this year).
@15, genius!
#15…the answer is no, because they’re in the bulge bracket
15 – works at Jefferies, the new king of the street!!!! Bow down biznatches
15 – works at Jefferies, the new king of the street!!!! Bow down biznatches
Did you guys know Lehman went under? Just found this out right now. Wow, this subprime mortgage mess is really spreading, huh? (new to finance…)
@13,14, 19/20
Citi BO?
@21
n.o.t. f.u.n.n.y.
what the fuck are you, greg’s little brother?
if it’s really 60K, then i think:
1. the 60K is paid in toxic assets, like CS did
2. the 60K is paid in cash that vests over 3 years,
or
3. the 60K is paid in rupees.
not funny is the new funny.
good god GET THE FUCK OUT, 21
25 nails it.
dont bonuses usually get paid in Jan/Feb?
@28 not for 1st/2nd year start dates out of college are in Jul.
@24 actually its seamlessweb gift cards.
Most people on this site are in finance and should have some clue about our tax system unless their dad’s accountant in [insert Bergen County town here] does their taxes for them.
The taxes that come out of your bonus are withholdings. At the end of the year, bonuses are treated as your salary is and taxed accordingly. Nobody bringing home $120k a year all-in is hitting a 50% marginal tax rate. Plus once you cross into that threshold, you’re not paying into social security anymore, so your marginal tax rate actually decreases.
Anyway, $60k for 2nd years ain’t bad. Given how much banks made in trading revenue in 1H08, S&T bonuses may rival banking ones.
@30 you’re an idiot. even after taxes, the number quoted in the post is wayyy more than a fucking SECOND TIER/second year employee at C should/will be getting this year, esp given that they’re raising base pay.
31, you in citi HR or something?
guess you know what everyone’s paying out – at least your back office bonus doesnt fluctuate much
@32 you really got me with that back office burn. you don’t have to work in HR to know that second tier citi second yrs are not getting 60k. ‘tard.
haven’t been on in a while. after reading this thread i kinda miss the site though. any thoughts on Palin?
Cheers B1tches,
Tanned Banker
Still no word at JPM, having delayed disclosure for over 1 week now.
-@35
check with your local MD, the email was out on Thursday.
@ 36
Officially, nothing has been disclosed and could still be subject to change as a result. Mgrs were given #s well before last Thursday even, but were told to wait.
@36
what were the initial #s?
I work at Citi. #s confirmed. $70k for Second year top-tier.
Why does it have to be either/or choice on bonuses for bankers? It seems that most of the concerns that have been raised in the financial crisis relate to very large bonuses or having a disproportionate share of bankers’ total comp come in the form of a discretionary, year end bonus. Why not move more to a 50/50 or even 60/40 model of base to bonus, instead of the 20/80 or 10/90 model used with investment bankers and capital markets types previously?
That is certainly more fair to employees who otherwise get blindsided at year end if the company does poorly. And if the concern is that the total comp numbers were too high, then that can be dealt with too.
Maybe a system of trailing accountability (enforced via FINRA and SEC as an industry matter) is what’s needed, when highly compensated bankers originate really bad deals, or become complicit in fraud. But some combination of these measures should address the problem, and not simply eliminating bonuses for the vast majority of hard-working, meritorious bankers and other support staff … again, many of whom are not highly compensated.
http://www.beaconintegration.com/service.htm
qmlgUH I think this is a real great post.