Bank of America Merrill Lynch first-year analysts can look
forward to a nice paycheck at the end of August, even if it is lower than in
the past, according to Businessinsider.
Sources with knowledge of compensation for the first year
analyst class of 2011 said bonuses ranged from $25,000 to $60,000, with the
median approximately $50,000.
One source said those first years in the bottom tier would
likely have difficulty making it through the bank's aggressive cost cuts about
to hit the investment bank. As a reminder, Merrill's average starting salary for first
years is $70,000 within the corporate and investment bank.
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