From an unhappy German:
Not a single investment banker I spoke with from any industry or product groups was happy with their number. A bonus of more than 140 resulted in 30-35% deferred compensation. Third year associates getting promoted were told they had to pay for their promotion and were “taxed.” The ranges for IB associates (just bonus) are as follows:
Stub: 45 (up from 18 last year)
1st year: 70-175
2nd year: 100-200
3rd year: 140-300
bummer
better than BAC
what does it mean that they had to “pay for their promotion”?
@3 you don’t want to know
3rd year IB cant live on 300K bonus? Im sure they got bumps, in fact im certain of it. They will live, have a bit of perspective people. Also if they dont like it, im sur they can get another gig. Or can they? Called weathering the storm, man up
@3 A2M
As far as I can tell from my exhaustive research, at least as far back as the Money Changers at the Temple there has never, ever, been a single investment banker who liked their number. Ever.
@3 The Ping Jiang whiteboard marker treatment. One marker for each rung on the ladder….
@5 did you see that 300 was the high end of the range?
I did @9, my point is yu cant really expect to be blown away. Expectations should be managed in this environment, its just common sense and the world we are currently living in.
And Seth is out at Pebble Beach this weekend. Suck it up peons.
Ass to ass, dust to dust.
And Seth is out at Pebble Beach this weekend. Suck it up peons.
Well, get happy Germans, ’cause it’s 2-for-1 crab legs night at Captain Orlander’s.
Let me think about these numbers for a second.
Ok, I’ve thought about it and I think my answer to these numbers would have to be “fuck you”. I don’t care if you wake up in a ditch with grown men shitting on you and jumping on top of your head. Maybe your nose will turn into a big ole dick and you can stroke that all the time. I hope your hair turns into dog shit one day. You wake up and you run your comb through it and all that it is, is little trundles of dog shit. The worst shit that you could imagine. AIDS… it’s cool. Everything comes around sweetheart.
And remember folks: the CEO (Herr Ackermann) vowed to spread the cost of UK/Euro ¨banker taxes¨ across all countries, so that´s another hit these guys are taking. They already received shitty boni for 2008, and were promised it would be made up for in 2009- this was told to me by a DB Assoc.
btw: ever notice how many fat Indian Associates there are at DB?
@16, the point is they arae lucky to have a job. If they dont like it and the are a bunch of BSD’s whose SDS then they can leave and do better. Or can they? Probably not
NS, are you off of your meds??
@naked- what’s up your ass today? douche.
@17/18 relax duders. A little quote from the movie Foot Fist Way. If you like Eastbound and Down I would suggest you rent it…like asap.
@ 19/NS
Sorry, they don´t have that at my college library, but I must say that you are more courteous than your counterparts and have the best blogger culture in town.
– Rice u-grad & aspiring banker/teacher/civil servant
P.S. Jesus, I´m not an outlier
Screw you, Anal_yst!
Deferred compensation means less spending, which means less consumption, which means less jobs.
Great job Obama!
Obama runs DB?
I make $300k annually as a commercial lender and live in an $800k house in Connecticut with 4300 sq ft and nearly an acre.
Stroke me slowly,
Webster Bank Baller
@23 He doesn’t?
Germans tend to be unhappy most of the time. They have this weltschmertze problem. Higher bonuses would not cure their ailment.
Time to adopt the new mantra ‘they pretend to pay me, so I pretend to work’.
@27, sure, what I do now is I ask myself, “What would a poor performer do?”