Sell side analyst compensation

I’ve recently started with an IB in equities research. I was suprised to hear bonuses are pretty underwhelming unless you are the lead analyst for a sector - which I’m not. Supposedly bonuses for associates since 2007 have been <5% of base. Interested to know if this is the case elsewhere and if so what are people’s thoughts on the structural decline of commissions generated by brokerages.

I’ve heard of some shops giving a higher base and to not expect a bonus for your first two years. From my understanding all in you’re looking at 80-100k.

There was a story on the bloomberg this week that said equity comp should overpace FI this year, so may just have to wait and see