Re:Young Goldman Sachs bankers ask for 80-hour week cap
by dan-robertson on Saturday March 20, 2021 @10:51AM
(#26523593)
£50k base for a random IB in London doesn’t sound shockingly low to me. There’s two things there:
1. Pay in general is lower in the UK than the US. The bank will pay what they can get away with and there isn’t enough competition between banks/consultancies/tech/law to drive pay up. I wouldn’t be surprised if more competitive candidates got higher offers.
2. A lot of compensation can be made up in bonuses, though I don’t know what kind of bonus a junior analyst might get.
1. Pay in general is lower in the UK than the US. The bank will pay what they can get away with and there isn’t enough competition between banks/consultancies/tech/law to drive pay up. I wouldn’t be surprised if more competitive candidates got higher offers.
2. A lot of compensation can be made up in bonuses, though I don’t know what kind of bonus a junior analyst might get.