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Trader Monthly/Options Group
2007 Wall Street Bonus Survey
FIXED-INCOME PROPRIETARY
| POSITION |
BASE |
BONUS |
| Analyst (1-3 years) |
$70,000-$90,000 |
$60,000-$80,000 |
| Associate (1-3 years) |
$100,000 |
$125,000-$175,000 |
| VP (1st year) |
$125,000-$150,000 |
$300,000-$400,000 |
| Director |
$150,000 |
$800,000-$1 million |
| MD |
$150,000-$200,000 |
$1 million-$2 million |
CREDIT-DERIVATIVES TRADING
| POSITION |
BASE |
BONUS |
| Associate (1-2 years) |
$70,000-$80,000 |
$90,000-$120,000 |
| Associate (3 year) |
$80,000-$90,000 |
$175,000-$225,000 |
| VP |
$100,000-$125,000 |
$400,000-$800,000 |
| Director |
$150,000 |
$1 million-$1.5 million |
| MD |
$200,000-$250,000 |
$1.7 million-$2.2 million |
| POSITION TOTAL COMPENSATION |
| Global Head $6 million-$8 million |
| Head of Americas $4 million-$5 million |
INTEREST-RATES TRADING
| POSITION |
BASE |
BONUS |
| Associate (1-2 years) |
$65,000-$75,000 |
$50,000-$60,000 |
| Associate (3 year) |
$75,000-$90,000 |
$70,000-$90,000 |
| VP |
$100,000-$125,000 |
$500,000-$600,000 |
| Director |
$150,000 |
$800,000-$1 million |
| MD |
$200,000 |
$1.3 million-$1.7 million |
| POSITION TOTAL COMPENSATION |
| Global Head $4 million-$6 million |
| Head of Americas $3.5 million-$4 million |
INVESTMENT-GRADE TRADING
| POSITION |
BASE |
BONUS |
| Associate (1-2 years) |
$65,000-$75,000 |
$50,000-$60,000 |
| Associate (3 year) |
$80,000-$90,000 |
$75,000-$85,000 |
| VP |
$125,000 |
$400,000-$500,000 |
| Director |
$150,000 |
$700,000-$900,000 |
| MD |
$200,000 |
$1 million-$1.5 million |
| POSITION TOTAL COMPENSATION |
| Head of Americas $3 million-$4 million |
HIGH-YIELD TRADING
| POSITION |
BASE |
BONUS |
| Associate |
$90,000 |
$80,000-$100,000 |
| VP |
$125,000 |
$200,000-$250,000 |
| Director |
$150,000 |
$500,000 |
| MD |
$200,000 |
$1.5 million-$2 million |
| POSITION TOTAL COMPENSATION |
| Head of Americas $4 million |
MORTGAGE-BACKED SECURITIES
| POSITION |
BASE |
BONUS |
| Associate (1-2 years) |
$65,000-$75,000 |
$70,000-$80,000 |
| Associate (3rd year) |
$80,000-$90,000 |
$80,000-$95,000 |
| VP |
$100,000 |
$300,000-$600,000 |
| Director |
$125,000 |
$1 million-$1.5 million |
| MD |
$150,000-$200,000 |
$2 million-$3 million |
| POSITION TOTAL COMPENSATION |
| Head of Americas $3.5 million-$4 million |
| Head of CMBS $6 million |
| Head of CMO $5 million-$6 million; $10 million (top) |
MORTGAGE-BACKED SALES
| POSITION |
BASE |
BONUS |
| Associate (1-2 years) |
$65,000-$75,000 |
$50,000-$60,000 |
| Associate (3rd year) |
$75,000-$85,000 |
$60,000-$80,000 |
| VP |
$100,000 |
$250,000-$400,000 |
| Director |
$125,000 |
$900,000-$1 million |
| MD |
$150,000-$200,000 |
$2 million-$3 million |
| POSITION TOTAL COMPENSATION |
| Head of Americas $3 million-$3.5 million |
EMERGING-MARKETS DEBT TRADING
| POSITION |
BASE |
BONUS |
| Associate (3rd year) |
$90,000-$110,000 |
$100,000-$120,000 |
| VP (3rd year) |
$125,000-$150,000 |
$300,000-$350,000 |
| Director(3+ years) |
$175,000-$200,000 |
$1 million-$1.2 million |
| MD(3+ years) |
$250,000 |
$2 million-$2.5 million |
| POSITION TOTAL COMPENSATION |
| Global Head $4 million |
| Head of Americas $3.5 million-$4 million |
MUNICIPAL-DERIVATIVES TRADING
| POSITION |
BASE |
BONUS |
| Associate (1-2 yearS) |
$60,000-$70,000 |
$70,000-$90,000 |
| Associate (3rd year) |
$70,000-$90,000 |
$100,000-$120,000 |
| VP |
$100,000-$125,000 |
$250,000-$400,000 |
| Director |
$150,000 |
$600,000-$800,000 |
| MD |
$200,000 |
$900,000-$1.3 million |
| POSITION TOTAL COMPENSATION |
| Regional Head , Trading $2 million-$2.5 million |
STRUCTURED CREDIT
| POSITION |
BASE |
BONUS |
| Associate (3rd year) |
$100,000 |
$225,000-$275,000 |
| VP(3rd year) |
$130,000-$150,000 |
$500,000-$600,000 |
| Director |
$150,000 |
$1 million-$1.3 million |
| MD |
$200,000 |
$2.5 million-$3 million |
| POSITION TOTAL COMPENSATION |
| Global Head $10 million |
| Head of U.S $6 million |
| Regional Head of CSOs $3.5 million-$4.5 million |
STRUCTURED-FINANCE TRADING
| POSITION |
BASE |
BONUS |
| Associate |
$80,000-$100,000 |
$100,000-$140,000 |
| VP |
$125,000 |
$400,000-$600,000 |
| Director |
$150,000 |
$600,000-$800,000 |
| MD |
$200,000 |
$1.3 millin-$1.7 million |
| POSITION TOTAL COMPENSATION |
| Global Head $10 million-$15 million |
| Global Head of ABS Trading $9 million-$11 million |
| Head of CMBS Trading $6 million |
| Head of Americas $5 million-$6 million |
FOREIGN-EXCHANGE TRADING
| POSITION |
BASE |
BONUS |
| Associate (3rd year) |
$85,000-$100,000 |
$70,000-$90,000 |
| VP (1-2 years) |
$95,000-$110,000 |
$300,000-$400,000 |
| VP (3rd years+) |
$125,000 |
$400,000-$500,000 |
| Director |
$125,000 |
$1 millin-$1.2 millin |
| MD |
$150,000-$200,000 |
$1.5 millin-$2 million |
| POSITION TOTAL COMPENSATION |
| Global Head $4 million |
| Head of Americas $2 million-$3 million |
EQUITY PROPRIETARY TRADING
| POSITION |
BASE |
BONUS |
| Analyst (Quant, 1-2 years) |
$80,000 |
$60,000-$100,000 |
| Analyst (Quant, 3rd year) |
$100,000 |
$100,000-$150,000 |
| VP (Execution Trader) |
$125,000 |
$250,000-$350,000 |
| Director |
$150,000 |
$1 millin-$1.1 millin |
| MD/PM |
$200,000 |
$1.2 millin-$2 million |
| POSITION TOTAL COMPENSATION |
| Global Head $8 million-$9 million |
| Head of Americas $5 million-$6 million |
EQUITY DERIVATIVE TRADING/STRUCTURING
| POSITION |
BASE |
BONUS |
| Associate (1-3 years) |
$100,000 |
$175,000-$225,000 |
| VP |
$125,000 |
$350,000-$450,000 |
| Director |
$150,000 |
$1 millin-$1.2 millin |
| MD |
$200,000 |
$1.4 millin-$1.6 million |
| POSITION TOTAL COMPENSATION |
| Global Head Trading/Structuring $6 million-$8 million |
| Global Head Volatility Trading $5 million-$6 million |
| Head of Americas $5 million-$6 million |
CONVERTIBLE-BOND TRADING
| POSITION |
BASE |
BONUS |
| Associate |
$60,000-$80,000 |
$60,000-$80,000 |
| VP/Director |
$100,000-$125,000 |
$400,000-$500,000 |
| MD |
$200,000 |
$800,000-$1 million |
| POSITION TOTAL COMPENSATION |
| Global Head $2.5 million-$3.5 million |
| Head of Americas $2 million |
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