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Bonus Watch ’14: Credit Suisse

A quick update re: yesterday’s bonus communication day, the update being that Brady Dougan apparently has some ticked off junior mistmakers on his hands.

“Equity research bonuses dismal despite record turnover in 2013 among junior and senior covering analysts. Management continues to de-emphasize equity research. Resumes are being updated. Morale reaches new low ahead of move into smaller offices.

Analyst $0-15k
Associate $0-25k

Some got a kicker from their bosses but in many cases bosses were underpaid as well in has been ironically dubbed an “investment” year by the firm after record turnover in 2013. People who got zero also received a ‘sorry’.”

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54 Responses to “Bonus Watch ’14: Credit Suisse”

  1. Hobbes says:

    Nothing better than a kick to the nuts after getting punched in the face.

  2. ddd says:

    I thought it went Associate -> Analyst?

  3. Vanpool Organizer says:

    Whatever the case, that's fucking terrible.

    Might as well work F500 at ride the van pool home at 4:00

  4. Snoop says:

    up in yo bitch is where ya might find me

  5. Rebecca M. says:

    At least they cannot claw back a bonus that was never given.

  6. FormerReader says:

    I wish I had to click through a few more jumps to get to the last three sentences of every single Dealbreaker post.

    – Guy that wonders if advertisers are really that stupid even though this site still displays advertisements regarding decorating Christmas trees on January 23rd.

  7. SS55 says:

    What about S&T numbers? Not sure why Dealbreaker is concerned with backoffice research…

    – H. Blodgett

  8. Guest says:

    I'm hard pressed to figure out why equity analysts even exist anymore, especially as they aren't tied to IBD. When the vast majority of "pro" stock pickers can't beat a passive index (and the few who do are different each year) what does that tell you about the value being added? In what other industry could people be paid so much for performing worse than doing nothing?

  9. Second tier for sure says:

    CS new slogan: incentivizing mediocrity since 2008

  10. The desk says:

    Equity research is the new technical analysis. Tough to sell this shit with a straight face.

  11. SMU Secure says:

    Credit Suisse = the Rat King

  12. U mad says:

    Self-absorbed and deluded b-school grads that weren't smart enough for med school or top tier consulting firms complain about pay… How's it feel to realize you're dumb and easily replaceable?

  13. DamnIWantACivic says:

    at this rate UBS is starting to look like an attractive place…

  14. douche says:

    Lots of 0s in S&T too…

  15. Guest says:

    How many years experience for an Associate in this case? Like 3-5 years out of undergrad?

    -Concerned 4th year at a competitor

  16. What about oldies says:

    Any word on VP eq research numbers?

  17. knoool says:

    why anyone works at cs is a mystery…

  18. Whitehat says:

    Level of senior analyst quality not just at CS but largely across BB's has fallen significantly. In a group where management is clearly not investing the current structure of "reactionary research" can't possibly be expected to work longer term. The group is pretty lean apart for the management team. Why senior management haven't done anything there makes no sense.

  19. Meme says:

    CS Sucks

  20. Ideasengine says:

    Management are laughing stocks and complete failures. They can't motivate or retain junior or senior people. Such hubris only ends badly–no wonder all the MDs walked out on their farce of a research –every decent firm has feasted on CS talent. But management continues to act as if there are no consequences. Even interns are turning down offers after spending 10 weeks in the circus called CS.

  21. Swiss diss says:

    CS is trying to milk its 'reputation' in research without paying people. Cut cost and headcount through attrition b/c they don't have a better idea

  22. Research Associate says:

    Not sure where these #'s came from. I am an Associate at a mid-market firm in equity research and my pre-tax year-end bonus this year is $50K, on a $95K salary.

  23. nymo says:

    Demand Media and Cisneros Interactive Announce Advertising Partnership great news for company $$