2010 wall street comps survey
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Fifth Annual Investment Banking Compensation Survey
2010
www.WallStreetComps.com
WallStreetComps.com 2006-2011
CompsComps
WALL ST
CompsComps
WALL ST
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WallStreetComps.com 2006-2011 1
TABLE OF CONTENTS
Disclaimer
FAQs
Information on Participants
Represented Banks
Overview of Bonuses 2009 / 2010
Regression Analysis
2010 Bonus
Distribution by Banks
Distribution by Location
Distribution by Groups
Distribution by Title:
Associate 0
Associate 1
Associate 2
Associate 3
Vice President 1
Vice President 2
Vice President 3
Senior Vice President
2
3
4
5
6
8
9
10
11
12
13
14
15
16
17
18
19
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DISCLAIMER
WallStreetComps.com was created to keep investment bankers informed about the compensation
trends in the industry.
Please be advised that the data gathered in this report were submitted by investment bankers on a
voluntary basis and without consultation of their respective employers mentioned herein.
Although the results are screened for obvious mistakes or typos, WallStreetComps.com cannot
guarantee the validity of the information presented. However, due to the nature of this report and
the way data were entered, we are confident the information in this report is valuable and
accurate.
The information is being provided freely and none of the banks or anyone else connected with
WallStreetComps.com in any way whatsoever can be responsible for inaccurate information.
This is a copyrighted report. It is distributed for free.
If you have any comments, questions or suggestions on how we can improve this survey for
next year, please email us at Webmaster@WallStreetComps.com
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FAQS
What is WallStreetComps.com?
WallStreetComps.com was created by a group of former investment bankers to keep peers
informed about the compensation trends in the industry. The resulting compensation report is
free and is a way to share information with peers.
How is data gathered?
The data gathered in this report were submitted by investment bankers on a voluntary basis.
Individual submissions are anonymous and kept strictly confidential. No personal data is required
and the data is used on an aggregated basis only.
How reliable are the data?
Although the results are screened for obvious mistakes or typos, WallStreetComps.com cannot
guarantee the validity of the information presented. However, due to the nature of this report and
the way data were entered, we are confident the information in this report is valuable and
accurate.
Which currency do you use?
All amounts are in U.S. dollars. We have asked each participant to convert his/her bonus (if it
were not received in USD) by using the following exchange rates:
1 = $1.30
1 = $1.55
These were the approximate exchange rates on December 1, 2010.
What is Associate 0?
When an MBA student is hired as an Associate following her graduation, she will generally be an
Associate for 17 months (from August of graduation year until December of the following year).
We define Associate 0 as the first 5 months of Associate 1, at the end of which a Stub bonus is
paid.
Why cant I see the name of my firm even though I participated in the survey?
If you were the only participant in your firm, we have decided not to disclose the name of that
firm to protect your privacy.
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INFORMATION ON PARTICIPANTS
We have received a total of 358 responses. The distribution of responses is as follows:
Distribution by Employer
TitleLarge U.S.
Banks
Large European
BanksBoutiques Other Total
Associate 0 28% 24% 20% 28% 100%
Associate 1 43% 7% 4% 46% 100%
Associate 2 62% 10% 10% 19% 100%
Associate 3 30% 22% 9% 39% 100%
Vice President 1 43% 13% 0% 43% 100%
Vice President 2 43% 29% 0% 29% 100%
Vice President 3 24% 14% 5% 57% 100%
Senior Vice Pres ident 27% 9% 5% 59% 100%
Managing Director 0% 0% 0% 100% 100%Total Population 132 54 24 148 358
Distribution by Group
Title M&AIndustry
Coverage
Fin. Sponsors /
Lev. Fin.Capital Market Other Group Total
Associate 0 36% 48% 16% 0% 0% 100%
Associate 1 32% 57% 0% 0% 11% 100%
Associate 2 24% 57% 5% 10% 5% 100%
Associate 3 35% 39% 4% 0% 22% 100%
Vice President 1 13% 61% 4% 13% 9% 100%
Vice President 2 36% 50% 0% 7% 7% 100%
Vice President 3 29% 48% 5% 0% 19% 100%
Senior Vice Pres ident 23% 55% 5% 14% 5% 100%
Managing Director 0% 0% 50% 50% 0% 100%
Total Population 100 184 20 20 34 358
Note: We closed the survey on March 20th 2011. All answers submitted after that date were nottaken into account in the survey.
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REPRESENTED BANKS
Bank Category
Bank of America Merrill Lynch Large U.S. Bank
Barclays Large U.S. Bank(*)
BNP Paribas Large European Bank
Citigroup Large U.S. Bank
Credit Suisse Large European Bank
Deutsche Bank Large European Bank
Evercore Partners Boutique
Goldman Sachs Large U.S. Bank
Greenhill Boutique
HSBC Bank Large European Bank
Jefferies Boutique
JPMorgan Large U.S. Bank
KPMG Other
Lazard Boutique
Moelis Boutique
Morgan Stanley Large U.S. Bank
Oppenheimer Other
RBC Capital Markets Other
UBS Large European Bank
Wachovia Other
(*) Barclays has been classified as a U.S. Bank although its ultimate parent company is UK-based because it representsthe former Investment Banking U.S. operations of Lehman Brothers.
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OVERVIEW OF BONUSES 2009/2010
Bonus by Year
Bonuses
2009 2010
Minimum $0 $0
Maximum 1,700,000 950,000
Average 268,144 205,465
1st Quartile 100,000 75,000
2nd Quartile (Median) 200,000 170,000
3rd Quartile 375,750 293,750
4th Quartile 1,700,000 950,000
Number of Responses 320 358
Number of Banks 20 20
2010 Bonus, Base and Percentage of Bonus paid in Stock, by Title and Quartile2010
Bonuses Average
1st Quartile 2nd Quartile 3rd Quartile 4th Quartile Base Bonus Stock Bonus
Associate 0 $35,000 $40,000 $42,000 $73,000 $101,000 $40,280 2%
Associate 1 105,000 125,000 150,000 225,000 118,036 127,321 13%
Associate 2 145,000 160,000 190,000 260,000 127,738 160,874 15%
Associate 3 63,750 195,000 290,000 325,000 130,761 174,500 11%
Vice President 1 172,500 225,000 300,000 450,000 162,322 233,477 17%
Vice President 2 191,250 277,500 356,250 511,500 174,573 283,179 15%
Vice President 3 200,000 367,000 465,000 950,000 163,048 344,238 17%
Senior Vice President 185,750 350,000 447,500 760,000 182,108 359,136 12%
Managing Director nm nm nm nm 262,500 nm nmAverage $75,000 $170,000 $293,750 $950,000 $143,312 $205,465 12%
Bonus by Year and Title
2009 Bonuses 2010 Bonuses Var. 2009 / 2010
Median Average Median Average Median Average
Associate 0 $40,000 $42,771 $40,000 $40,280 0.0% (5.8%)
Associate 1 140,000 134,952 125,000 127,321 (10.7%) (5.7%)
Associate 2 168,125 153,484 160,000 160,874 (4.8%) 4.8%
Associate 3 230,000 233,331 195,000 174,500 (15.2%) (25.2%)
Vice President 1 355,000 326,211 225,000 233,477 (36.6%) (28.4%)
Vice President 2 362,500 346,000 277,500 283,179 (23.4%) (18.2%)
Vice President 3 263,500 297,875 367,000 344,238 39.3% 15.6%
Senior Vice President 557,500 524,556 350,000 359,136 (37.2%) (31.5%)
Managing Director nm nm nm nm n/a n/a
Note: bonuses as reported by the bankers; include cash and stock portion as well as other types of deferredpay.
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$9.8$11.2
$9.1
$13.5
$19.5
$13.0
$9.8
$15.8
$18.6
$25.6
$34.3$33.0
$17.6
$22.5$20.8
$0
$5
$10
$15
$20
$25
$30
$35
$40
'96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10E
Wall Street Bonuses15-year History
($bn)
-7.6%
Source: The Office of the State Comptroller, February 2011. After a significant increase in Wall Street bonuses in 2009 (+27.8%), bonuses were slightly down
in 2010. According to estimates released by New York State Comptroller Thomas DiNapoli, total
Wall Street bonuses were down 7.6% last year to $20.8 billion, compared with $22.5 billion in
2009. But these estimates do not include stock options or other types of deferred pay.
WallStreetComps estimates gathered directly from investment bankers show a similar picture:
2010 Median Bonuses were down 15.0% at $170,000 per banker and 2010 Average Bonuses
were down 23.4% at $205,465 per banker.
$187
$255
$367$345
$133
$268
$205
$148
$220
$255$283
$90
$200
$170
$0
$50
$100
$150
$200
$250
$300
$350
$400
'04 '05 '06 '07 '08 '09 '10
WallStreetComps Survey
($ in thousands)
Average Bonus Median Bonus
However, median total compensation was only down 4.6% (or $15,000) to $310,000 due to a
significant increase in base salaries implemented last year by all major financial institutions.
Enjoy the Fifth Annual Wall Street Comps Survey!
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REGRESSION ANALYSIS
For statistics aficionados, we ran a regression analysis for the bonuses paid in 2010 based
on years of experience, type of banks and location. We excluded from the regression stub
bonuses (bonus paid to Associate 0). The analysis yielded the following regression:
Bonus = $193,080 + Rank * $39,474 - Bank * $34,076 - Location * $18,514
R2 = 0.181
Standard Error = $146,798
With:
Rank
Associate 1 1
Associate 2 2
Associate 3 3
Vice President 1 4
Vice President 2 5
Vice President 3 6
Senior Vice President 7
Bank
Large U.S. Banks 1
Large European Banks 2
Boutiques / Others 3
LocationNew York 1
London 2
Other 3
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DISTRIBUTION BY BANKS
2010 Average Bonus by Banks and Title
2010 Average Bonus
Banks Distribution Associate* Vice President SVP
Large U.S. Banks 39%
Average Bonuses $167,855 $347,786 $553,333
Average Portion Paid in Stocks 16% 20% 24%
Bank of America / Merrill Lynch 168,824 432,500 400,000
Barclays 172,333 294,227 540,000
Citigroup 213,870 453,333 -
Goldman Sachs - 362,500 -
JPMorgan 118,333 370,000 640,000
Morgan Stanley 205,000 373,500 600,000
Large European Banks 14%
Average Bonuses $90,556 $267,161 $175,000
Average Portion Paid in Stocks 8% 25% 8%
BNP Paribas 10,000 138,333 350,000
Credit Suisse 187,500 176,614 -
Deutsche Bank - 301,667 -
UBS 75,000 391,667 -
Boutiques 5%
Average Bonuses $225,000 $460,000 $181,000
Average Portion Paid in Stocks 18% 2% 10%
Evercore Partners 230,000 - -
Jefferies 225,000 460,000 181,000
Others 43%
Average Bonuses $140,212 $235,706 $311,538
Average Portion Paid in Stocks 10% 10% 8%
Oppenheimer 105,000 - 236,667
RBC Capital Markets 312,500 347,333 750,000
Wachovia 172,333 - -
Other 119,925 228,925 267,273
Average 2010 Bonuses 100% $152,178 $285,577 $359,136
Average 2009 Bonuses $166,359 $322,518 $524,556
Y-o-Y Increase (9% ) (11% ) (32% )
* Does not include Associate 0
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DISTRIBUTION BY LOCATION
2010 Average Bonus by Location and Title
2010 Average Bonus
Banks Distribution Associate* Vice President SVP
New York 66% $159,447 $313,757 $341,824U.S (ex - NY) 20% 141,658 208,750 332,500
London 8% 158,588 267,607 -
Europe (ex - London) 1% 137,000 40,000 -
Asia 4% - 275,904 760,000
Total Population 100% $152,178 $285,577 $359,136
* Does not include Associate 0
2010 Average Bonus by Banks, Location and Title
2010 Average Bonus
Banks Distribution Associate* Vice President SVP
Large U.S. Banks 39% $167,855 $347,786 $553,333
New York 169,306 351,786 527,500
U.S (ex - NY) 172,500 400,000 450,000
London 158,588 307,875 -
Europe (ex - London) 132,000 - -
Asia - 373,500 755,000
Large European Banks 14% $90,556 $267,161 $175,000
New York 83,125 278,750 175,000
U.S (ex - NY) 145,000 - -
London - 260,000 -
Europe (ex - London) - - -
Asia - 171,614 -
Boutiques 5% $225,000 $460,000 $181,000
New York 225,000 460,000 181,000
U.S (ex - NY) - - -
London - - -
Europe (ex - London) - - -
Asia - - -
Others 43% $140,212 $235,706 $311,538
New York 166,031 285,286 317,000
U.S (ex - NY) 109,889 181,429 293,333
London - 214,785 -Europe (ex - London) - 35,000 -
Asia - 180,000 -
Average 2010 Bonuses 100% $152,178 $285,577 $359,136
Average 2009 Bonuses $166,359 $322,518 $524,556
Y-o-Y Increase (9% ) (11% ) (32% )
* Does not include Associate 0
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DISTRIBUTION BY GROUPS
2010 Average Bonus by Groups and Title
2010 Average Bonus
Banks Distribution Associate* Vice President SVPM&A 27% $169,136 $238,786 $409,000
Industry Coverage 53% 158,500 314,713 350,000
Fin. Sponsors / Lev. Fin. 3% 134,675 34,677 90,000
Capital Market 6% 150,000 207,500 272,000
Other Group 11% 89,111 366,429 750,000
Total Population 100% $152,178 $285,577 $359,136
* Does not include Associate 0
2010 Average Bonus by Banks, Groups and Title
2010 Average BonusBanks Distribution Associate* Vice President SVP
Large U.S. Banks 39% $167,855 $347,786 $553,333
M&A 211,000 305,000 640,000
Industry Coverage 164,409 354,885 536,000
Fin. Spons ors / Lev. Fin. 119,350 50,000 -
Capital Markets 150,000 210,000 -
Other Group 140,000 700,000 -
Large European Banks 14% $90,556 $267,161 $175,000
M&A 76,667 515,000 -
Industry Coverage 108,000 255,231 -
Fin. Spons ors / Lev. Fin. - - -
Capital Markets - - 345,000
Other Group 40,000 185,000 -
Boutiques 5% $225,000 $460,000 $181,000
M&A 241,667 460,000 -
Industry Coverage 225,000 - -
Fin. Spons ors / Lev. Fin. - - -
Capital Markets - - 176,000
Other Group 165,000 - -
Others 43% $140,212 $235,706 $311,538
M&A 155,545 175,800 351,250
Industry Coverage 164,167 305,091 253,333
Fin. Spons ors / Lev. Fin. 150,000 19,354 90,000Capital Markets - 200,000 285,000
Other Group 61,400 265,000 745,000
Average 2010 Bonuses 100% $152,178 $285,577 $359,136
Average 2009 Bonuses $166,359 $322,518 $524,556Y-o-Y Increase (9% ) (11% ) (32% )
* Does not include Associate 0
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ASSOCIATE 0
2010 Bonus by Banks
Base Bonus
Type of Bank Distribution Average Median Average
Large U.S. Banks 28% $103,571 $40,000 $42,000
Large European Banks 24% 104,167 35,000 35,833
Boutiques 20% 111,000 40,000 43,000
Other 28% 88,571 40,000 40,429
Total Population 100% $101,000 $40,000 $40,280
2010 Bonus by Location
BaseBonusLocation Distribution Average Median Average
New York 68% $106,176 $40,000 $43,206
U.S (ex - NY) 32% 90,000 35,000 34,063
Total Population 100% $101,000 $40,000 $40,280
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ASSOCIATE 1
2010 Bonus, Base and Percentage of Bonus paid in Stock, by Banks
Base Bonus Stocks
Type of Bank Distribution Average Median Average AverageLarge U.S. Banks 43% $123,750 $125,000 $130,000 15%
Large European Banks 7% 130,000 55,000 55,000 0%
Boutiques 4% 130,000 170,000 165,000 18%
Other 46% 110,000 125,000 132,692 13%
Total Population 100% $118,036 $125,000 $127,321 13%
Base 2010 Average Bonus
Bank Distribution Average Total Stock
Bank of America / Merrill Lynch 21% $122,500 $128,333 13%
Citigroup 4% 125,000 160,000 0%
Evercore Partners 4% 130,000 165,000 18%
JPMorgan 18% 125,000 125,000 20%
UBS 7% 130,000 55,000 0%
Total Sub-Group 54% $126,500 $126,667 10%
Total Population 100% $118,036 $127,321 13%
2010 Bonus by Location
2010 Average Bonus
Location Distribution Median Average
New York 68% $125,000 $132,632
U.S. (excluding NY) 29% 115,000 110,000
London 4% 165,000 160,000
Total Population 100% $125,000 $127,321
2010 Bonus by Group
2010 Average Bonus
Group Distribution Median Average
M&A 32% $125,000 $117,222
Industry Coverage 57% 122,500 129,375
Other Group 11% 170,000 146,667
Total Population 100% $125,000 $127,321
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ASSOCIATE 2
2010 Bonus, Base and Percentage of Bonus paid in Stock, by Banks
Base Bonus Stocks
Type of Bank Distribution Average Median Average AverageLarge U.S. Banks 62% $136,000 $175,000 $166,642 18%
Large European Banks 10% 140,000 147,500 147,500 25%
Boutiques 10% 107,500 227,500 227,500 7%
Other 19% 104,875 101,000 115,500 4%
Total Population 100% $127,738 $160,000 $160,874 15%
Base 2010 Average Bonus
Bank Distribution Average Total Stock
Bank of America / Merrill Lynch 38% $139,813 $166,250 20%
Barclays 10% 122,500 161,000 8%
Citigroup 10% 132,250 154,675 0%
Credit Suisse 5% 150,000 145,000 40%
Lazard 5% 110,000 225,000 14%
Morgan Stanley 5% 140,000 200,000 57%
UBS 5% 130,000 140,000 10%
Total Sub-Group 76% $132,080 $170,275 21%
Total Population 100% $127,738 $160,874 15%
2010 Bonus by Location
2010 Average Bonus
Location Distribution Median Average
New York 57% $180,000 $176,250U.S. (excluding NY) 24% 150,000 131,400
Europe (excluding London) 5% 137,000 137,000
London 14% 160,000 156,450
Total Population 100% $160,000 $160,874
2010 Bonus by Group
2010 Average Bonus
Group Distribution Median Average
M&A 24% $160,000 $169,400
Industry Coverage 57% 175,000 176,000
Fin. Sponsors / Lev. Fin. 5% 119,350 114,350Capital Market: ECM / DCM 10% 150,000 150,000
Total Population 95% $160,000 $160,874
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ASSOCIATE 3
2010 Bonus, Base and Percentage of Bonus paid in Stock, by Banks
Base Bonus Stocks
Type of Bank Distribution Average Median Average AverageLarge U.S. Banks 30% $153,214 $290,000 $235,000 14%
Large European Banks 22% 122,000 45,000 82,000 4%
Boutiques 9% 165,000 250,000 250,000 29%
Other 39% 110,556 150,000 162,056 8%
Total Population 100% $130,761 $195,000 $174,500 11%
Base 2010 Average Bonus
Bank Distribution Average Total Stock
Bank of America / Merrill Lynch 13% $160,000 $256,667 23%
Barclays 4% 130,000 190,000 17%
BNP Paribas 9% 100,000 10,000 0%
Citigroup 9% 151,250 297,500 0%
Credit Suisse 4% 150,000 220,000 11%
Evercore Partners 4% 170,000 285,000 22%
JPMorgan 4% 160,000 80,000 10%
RBC Capital Markets 9% 100,000 312,500 28%
Total Sub-Group 57% $140,156 $206,458 14%
Total Population 100% $130,761 $174,500 11%
2010 Bonus by Location
2010 Average Bonus
Location Distribution Median Average
New York 70% $202,500 $178,688U.S. (excluding NY) 26% 215,000 192,417
Total Population 96% $195,000 $174,500
2010 Bonus by Group
2010 Average Bonus
Group Distribution Median Average
M&A 35% $259,500 $227,375
Industry Coverage 39% 225,000 186,944
Fin. Sponsors / Lev. Fin. 4% 150,000 145,000
Other Group 22% 45,000 72,400
Total Population 100% $195,000 $174,500
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VICE PRESIDENT 1
2010 Bonus, Base and Percentage of Bonus paid in Stock, by Banks
Base Bonus Stocks
Type of Bank Distribution Average Median Average AverageLarge U.S. Banks 43% $179,000 $250,000 $285,500 16%
Large European Banks 13% 199,632 265,000 258,871 41%
Other 43% 134,452 187,500 173,835 11%
Total Population 100% $162,322 $225,000 $233,477 17%
Base 2010 Average Bonus
Bank Distribution Average Total Stock
Bank of America / Merrill Lynch 4% $200,000 $445,000 20%
Barclays 30% 165,714 235,000 14%
Credit Suisse 4% 253,896 171,614 50%
Deutsche Bank 4% 185,000 260,000 30%
Goldman Sachs 4% 200,000 445,000 20%
Morgan Stanley 4% 230,000 305,000 20%
UBS 4% 160,000 330,000 44%
Total Sub-Group 57% $199,230 $313,088 28%
Total Population 100% $162,322 $233,477 17%
2010 Bonus by Location
2010 Average Bonus
Location Distribution Median Average
New York 43% $250,000 $257,700
U.S. (excluding NY) 22% 200,000 228,400
Asia 9% 243,307 243,307London 26% 165,000 194,059
Total Population 100% $225,000 $233,477
2010 Bonus by Group
2010 Average Bonus
Group Distribution Median Average
M&A 13% $175,000 $215,000
Industry Coverage 61% 250,000 255,758
Fin. Sponsors / Lev. Fin. 4% 19,354 14,354
Capital Market: ECM / DCM 13% 170,000 156,667
Other Group 9% 327,500 327,500Total Population 100% $225,000 $233,477
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VICE PRESIDENT 2
2010 Bonus, Base and Percentage of Bonus paid in Stock, by Banks
Base Bonus Stocks
Type of Bank Distribution Average Median Average AverageLarge U.S. Banks 43% $190,671 $330,000 $356,917 23%
Large European Banks 29% 172,500 187,500 227,500 17%
Other 29% 152,500 227,500 228,250 0%
Total Population 100% $174,573 $277,500 $283,179 15%
Base 2010 Average Bonus
Bank Distribution Average Total Stock
Bank of America / Merrill Lynch 7% $175,000 $410,000 25%
Barclays 21% 181,342 363,833 21%
BNP Paribas 14% 145,000 135,000 0%
Citigroup 7% 175,000 355,000 25%
Deutsche Bank 14% 200,000 320,000 33%
Goldman Sachs 7% 250,000 270,000 25%
Total Sub-Group 71% $187,724 $308,972 22%
Total Population 100% $174,573 $283,179 15%
2010 Bonus by Location
2010 Average Bonus
Location Distribution Median Average
New York 79% $280,000 $287,273
U.S. (excluding NY) 7% 113,000 108,000
Asia 7% 180,000 175,000
London 7% 511,500 506,500Total Population 100% $277,500 $283,179
2010 Bonus by Group
2010 Average Bonus
Group Distribution Median Average
M&A 36% $275,000 $242,600
Industry Coverage 50% 280,000 309,500
Capital Market: ECM / DCM 7% 360,000 355,000
Other Group 7% 225,000 220,000
Total Population 100% $277,500 $283,179
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VICE PRESIDENT 3
2010 Bonus, Base and Percentage of Bonus paid in Stock, by Banks
Base Bonus Stocks
Type of Bank Distribution Average Median Average AverageLarge U.S. Banks 24% $196,600 $437,000 $461,400 26%
Large European Banks 14% 186,667 325,000 328,333 20%
Boutiques 5% 135,000 455,000 460,000 2%
Other 57% 145,500 292,500 289,750 13%
Total Population 100% $163,048 $367,000 $344,238 17%
Base 2010 Average Bonus
Bank Distribution Average Total Stock
Citigroup 10% $190,000 $500,000 10%
Jefferies 5% 135,000 455,000 2%
JPMorgan 5% 190,000 365,000 25%
Morgan Stanley 5% 213,000 432,000 60%
RBC Capital Markets 10% 125,000 487,500 28%
UBS 10% 205,000 420,000 30%
Total Sub-Group 43% $176,333 $443,250 26%
Total Population 100% $163,048 $344,238 17%
2010 Bonus by Location
2010 Average Bonus
Location Distribution Median Average
New York 76% $368,500 $367,000
U.S. (excluding NY) 10% 207,500 207,500
Europe (excluding London) 5% 35,000 40,000Asia 5% 432,000 437,000
London 5% 460,000 465,000
Total Population 100% $367,000 $344,238
2010 Bonus by Group
2010 Average Bonus
Group Distribution Median Average
M&A 29% $210,000 $247,500
Industry Coverage 48% 403,500 400,900
Fin. Sponsors / Lev. Fin. 5% 45,000 50,000
Other Group 19% 305,000 421,250
Total Population 100% $367,000 $344,238
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WallStreetComps.com 2006-2011 19
SENIOR VICE PRESIDENT
2010 Bonus, Base and Percentage of Bonus paid in Stock, by Banks
Base Bonus Stocks
Type of Bank Distribution Average Median Average AverageLarge U.S. Banks 27% $240,000 $540,000 $553,333 24%
Large European Banks 9% 202,188 175,000 175,000 8%
Boutiques 5% 175,000 181,000 176,000 10%
Other 59% 152,846 285,000 311,538 8%
Total Population 100% $182,108 $350,000 $359,136 12%
Base 2010 Average Bonus
Bank Distribution Average Total Stock
Bank of America / Merrill Lynch 5% $250,000 $395,000 25%
Barclays 9% 240,000 540,000 22%
JPMorgan 5% 260,000 635,000 30%
Morgan Stanley 9% 225,000 600,000 22%
Oppenheimer 14% 150,000 236,667 0%
Total Sub-Group 41% $225,000 $481,333 20%
Total Population 100% $182,108 $359,136 12%
2010 Bonus by Location
2010 Average Bonus
Location Distribution Median Average
New York 77% $350,000 $341,824
U.S. (excluding NY) 18% 365,000 332,500
Asia 5% 755,000 760,000
Total Population 100% $350,000 $359,136
2010 Bonus by Group
2010 Average Bonus
Group Distribution Median Average
M&A 23% $350,000 $409,000
Industry Coverage 55% 400,000 350,000
Fin. Sponsors / Lev. Fin. 5% 85,000 90,000
Capital Market: ECM / DCM 14% 285,000 272,000
Other Group 5% 745,000 750,000
Total Population 100% $350,000 $359,136
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8/3/2019 2010 Wall Street Comps Survey
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