Hello fellow primates. This is my first post on WSO. I've done lots of searches on this site and elsewhere on the web concerning this topic already and I've found very little information concerning salary and bonus levels for Private Banking, specifically atas you move up the ladder. I've been able to ascertain that first year analysts earn a salary of around $70k on average along with a $10-15k bonus. Does that sound about right?
Mod note: make sure to check out the great response below by user rogersterling59
But I'm also interested to know what compensation levels are like as you move up the food chain. What is the compensation bump when you go from analyst to associate and from associate to VP, etc? Are MDs making upwards of $500k or something much more modest than that figure?
Lastly, I was hoping someone could talk to me about the number of hours you work on average. I've heard that there are no weekends, and that you work on average from 8am to 7pm with two-hour lunch breaks, Mon-Fri. Does this sound reasonable?