• 05 Oct 2009 at 2:16 PM

First Year IBD Analysts Only BarCap Employees Not Getting Screwed, Says BarCap Associates

By Bess Levin

Last week we were informed of the unbelievable news that 1st/2nd/3rd year sales&trading analysts head been led to believe (by their own assumptions) that they’d be getting 10k salary bumps because 1st/2nd/3rd year banking analysts got raises and fair is fair. Apparently not in Phil Mickelson’s house! The s&t’ers got nothing, and what stung the most, we’re told, is that HR didn’t even think to say it was sorry for getting the junior rainmakers’ hopes up. Today, it gets even worse. From an associate who, Bob Diamond I hope you’re listening good and hard, is thisclose to considering the possibility of maybe leaving if a more desirable situation (a call back from Dick Fuld’s new shop) presents itself:

Just a heads up, the same call/conversation took place with the IBD analysts/associates last week. The analysts had their conference call first in which they were told they would be getting a $10k bump to $70k/$80k/$90k (1st/2nd/3rd). All the associates heard the cheering on the floor and when we found out what was going on, expected the same bump on our call scheduled for 15 minutes after the analyst call. Needless to say, we didn’t get the bump. We were told the firm would “reevaluate” the base salary situation in march (most likely after everyone has already left for other firms). What’s more, the folks coming in through the Barclays side get paid $10k more than the Lehman associates.

So first year associates that came in from Lehman basically get paid $5k more than 3rd year analysts (guess that’s the market value of an MBA these days). Everyone here agrees: barcap is the definition of bush league.

Comments (30)

  1. 1
    Posted by guest | October 5, 2009 at 2:17 PM

    They’re all slores

  2. 2
    Posted by guest | October 5, 2009 at 2:18 PM

    you punk bitch pieces of shit!!!! do you know who lucky you were to get to stay on?!
    -df

  3. 3
    Posted by guest | October 5, 2009 at 2:23 PM

    whiney fucking bitches

  4. 4
    Posted by guest | October 5, 2009 at 2:24 PM

    so fucking quit already and be done with it!
    -bobby d

  5. 5
    Posted by pfluger | October 5, 2009 at 2:25 PM

    You junior BarCap associates have set an example for the rest of Wall Street and, indeed!, for America and the rest of the world.
    Congratulations!
    -MM

  6. 6
    Posted by guest | October 5, 2009 at 2:25 PM

    “Everyone here agrees: barcap is the definition of bush league. “

  7. 7
    Posted by guest | October 5, 2009 at 2:26 PM

    so quit already and open up some space for the rest of us!!
    -Dick Fuld, Joe Gregory

  8. 8
    Posted by guest | October 5, 2009 at 2:29 PM

    I make more money than most of you.
    Jefferies MD

  9. 9
    Posted by guest | October 5, 2009 at 2:37 PM

    “guess that’s the market value of an MBA these days”
    Yep, sounds about right.

  10. 10
    Posted by guest | October 5, 2009 at 2:43 PM

    you’d be getting paid more if you had a cfa.

  11. 11
    Posted by pfluger | October 5, 2009 at 2:47 PM

    I approved the BarCap salary package, because it ensures that there are no short term financial incentives which reward undue risk-taking activities.
    -Your friend and colleague, Tim

  12. 12
    Posted by guest | October 5, 2009 at 2:56 PM

    Uhh dude, it’s $5k.

  13. 13
    Posted by guest | October 5, 2009 at 3:01 PM

    @12 i’d blow a homeless guy for 5k right about now.
    -df

  14. 14
    Posted by guest | October 5, 2009 at 3:04 PM

    You meant €70k, right?
    -GS Administrative Assistant

  15. 15
    Posted by guest | October 5, 2009 at 3:05 PM

    You guys should be happy you’re getting any fees at all!
    I’m your CEO – bitches!
    -Maxine

  16. 16
    Posted by guest | October 5, 2009 at 3:09 PM

    A 3rd year analyst is worth at least $15k more than a new associate in the vast majority of cases.

  17. 17
    Posted by pfluger | October 5, 2009 at 3:10 PM

    I saved all of your jobs. Praise me!
    -bho

  18. 18
    Posted by guest | October 5, 2009 at 3:15 PM

    more overpaid– associates or vps?

  19. 19
    Posted by guest | October 5, 2009 at 3:19 PM

    @13 learn to negotiate, the homeless guy would probably settle if you just offer him a pack of smokes. No wonder you went bust

  20. 20
    Posted by guest | October 5, 2009 at 3:31 PM

    I spend more than that every year on pet food. Does Barcap give their analysts food stamps too?
    - SAC janitor

  21. 21
    Posted by guest | October 5, 2009 at 3:32 PM

    Only real rainmakers give a shit about a $5K/yr difference in base pay

  22. 22
    Posted by Tax Chick | October 5, 2009 at 4:06 PM

    @19 learn to read. Poster @13 said he would blow a homeless man for $5K… ie., someone could pay him $5K to go down on a bug riddled, sore plagued, urine smelling homeless man. He was not saying that he would pay a homeless guy $5K to blow him. That would be just plain stupid.

  23. 23
    Posted by DB | October 5, 2009 at 4:08 PM

    deutsche is the same

  24. 24
    Posted by creed | October 5, 2009 at 4:51 PM

    Sat near a bunch of Barcap dipshits @ Bruce concert on 9/30. Pretty sure drug testing not mandatory @ that troubled bank.

  25. 25
    Posted by cool tricks | October 5, 2009 at 4:55 PM

    i would blump a homeless guy for one of those sweet I-shares gym bags.

  26. 26
    Posted by pfluger | October 5, 2009 at 5:06 PM

    @tc/22:
    Outstanding attention to detail! I noticed the miscomprehension of @19 myself, and hope that his/her sloppiness does not undermine this esteemed site. The finest blog in the financial gig, by far.

  27. 27
    Posted by Tax Chick | October 5, 2009 at 5:11 PM

    @pfluger
    I highly doubt the poor reading comprehension of one DB poster is reflective of the start quality that regularly posts here (cg impersonators, secretary ass pounders, UBS suckers, and the like excluded).

  28. 28
    Posted by Tax Chick | October 5, 2009 at 5:13 PM

    star, not start…

  29. 29
    Posted by guest | October 5, 2009 at 10:25 PM

    At least UBS associates got a bump in base salary… 130k/140k/150k for 1st/2nd/3rd years

  30. 30
    Posted by guest | October 5, 2009 at 11:14 PM

    Any word on raises for Wells Fargo branch VPs? Specifically for locations 50 miles outside Dallas?

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