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Morgan Stanley analysts' bonuses were not large

This time last year, Morgan Stanley analysts were complaining bitterly about their bonuses.  

One year on, it seems they're complaining again.

Morgan Stanley isn't commenting, but sources at the bank say that first year analysts in London received bonuses of only £15k- £30k ($18k-$36k), or 20% to 40% of salaries. 

Last year, average bonuses for first year analysts at the bank in London were thought to be closer to £42k. 

Insiders at Morgan Stanley don't appear to be happy. "For first year analysts, the bonuses are worse than last year. Morgan Stanley should stop being so cheap," said one.

In its defense, Morgan Stanley is unlikely to be the only bank paying small bonuses to its most junior staff this summer. Not all banks have announced analyst bonuses yet, but those that have (eg RBC) are also understood to have been parsimonious. 

As analyst bonuses disappoint, there are signs that some banks are choosing to delay their bonus payments while they recalibrate. Barclays, for example, is reportedly holding off announcing junior bonuses until mid-August, and there are reports that Truist is paying later than usual.

The poor payments come after a difficult period for M&A. M&A revenues at Morgan Stanley were down 29% year-on-year in the first half of 2023. 

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Photo by Shashank Hudkar on Unsplash

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AUTHORSarah Butcher Global Editor

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