IB Salary Report

Am not too familiar with the hierarchy at IB firms but is it always Associate then VP? Are there ever any interim positions such as Principal like in some PE firms?

From what I know the career progression at the big banks goes something like:

Analyst -> Associate -> VP -> Senior VP -> Director -> Managing Director -> Group Head -> CEO

thanks river!

Is it just me or do those seem unusually high?

Take note of the year, 2006. That was a very good year on Wall Street.

Any idea what to adjust the numbers to?

Senior VP and Director are generally the same position - they're just called one or the other at different banks.

There is also sometimes a title of "Senior Managing Director" that comes after MD. This is generally coincides with a Group Head appointment, but sometimes I believe there are SMD's who are not Group Head's.

Goldman Sachs also has Partner Managing Directors which are a step up above MD. In the golden days when GS was private, these were the positions that everyone would aspire to - the positions which allowed you to share in the firms good fortunes with an equity stake. Many of the PMD's all of a sudden found that their net worths ballooned by tens of millions of dollars after the Goldman Sachs IPO in 1999 (one "normal" non-C suite example: https://www.timesonline.co.uk/richlist/p ... 09,00.html). However, I really don't know much clout the title holds today with GS being a public company.

Lastly, I'm not quite sure about this, but some guys have a title like "Global Head of Technology Investment Banking" or "Global Head of Interest Rate Derivatives" - I'm not sure if this is the same thing as Group Head, or if it is actually a step up. It could just be different naming conventions at different banks.

This is from Wall Street Oasis, a good IB blog/website. This is also for a full year, not the stub. Also, check out Mergers and Inquisitions for other great IB information.

VP and MD Bonus #s on that chart sound like they would be for regional firms.

Also note that it is self-reported data and I wouldn't guess as many MDs and VPs would spend much time on the website.

Very good point. Do they have another forum for MDs and above? *chuckle*

Just thought I'd throw it in there:

https://www.amazon.com/Damn-Feels-Good-B ... 939&sr=8-1

Quite possibly the funniest book on banking culture ever written

I read it last week, and I would definitely say its worth checking out.

I talked to a few people that read it and said its well written but still basically a bunch of tired cliches. From what they said it was a decent book but didnt live up to expectations.

It exceeded mine - but I've been a regular reader of leveragedsellout.com for a couple of years now and I'm a big fan of Amit Chatwani's writing in general. It definitely does have a few tired cliches, but his hilarious writing style makes up for them.

What is so funny about it? Does he make up stuff that he doesn't know and tell others that they're lacking in almost every way? Does he ask people "Is this supposed to impress me?"

Go take a peek for yourself. You may not be as thrilled with it as I was. It could certainly rub many people the wrong way.