Perella Weinberg Partners sets new record with associate pay
Perella Weinberg Partners is the latest bank to announce bonuses for its juniors, and it seems they're even higher than at PJT Partners.
A post on the Litquidity Instagram account claims that following an increase in both salaries and bonuses at PWP, first year associates in London are now on total compensation of between £240k and £260k ($324k-$351k), second year associates are now on total compensation of between £262k and £286k ($353k-$386k), and third years are on between £277k and £320k ($374k-$432k).
Bonuses have increased for associates at Perella Weinberg, but so have salaries. The bank hiked analyst salaries last summer, but insiders say associate and director salary increases were delayed until this January.
Following this month's salary rise, associate salaries at Perella in London are £120k for first years, £130k for second years and £145k for third years.
PWP declined to comment on the numbers, but multiple sources said they were correct. Financial News reported yesterday that the bank promoted four new partners, including former Credit Suisse banker Jérôme Brassart. It's also just hired Andrew Stockdale from JPMorgan as an executive director in its fintech banking team.
PJT Partners announced bonuses last week. First year associates are in London are understood to have received around £235k.
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