Investment Sales analyst - Questions
If a new grad joins a big brokerage as a capital markets analyst or an IS analyst, who do they work for? The broker on their team or for the firm?

Also, assuming they get a base salary, who pays them? Does that come from corporate or from their team's broker?
[{"id": "flqrm1j", "text": "I work for a large commercial real estate company and although I\u2019m not on the capital markets team, here is my answer: As an analyst you will be working under a managing director, a few managers, and possibly 1-3 analysts depending on your office size etc. This team (the IS team) will likely have their own P&amp;L and the company leadership will evaluate the group based on that. Now, that P&amp;L can roll up to regional P&amp;Ls etc and sometimes companies make decisions based on these roll ups vs individual teams. Typically the company will be the one paying your base salary and bonus, however, the bonus is typically derived from the P&amp;L of your team. So the company is the one paying you, but your team is who will manage and evaluate your performance.", "replies": [{"id": "flqtzgt", "text": "Thanks! This is perfect.", "replies": [], "depth": 2}, {"id": "flrlz1h", "text": "How much would expected comp be for a investment sales/capital markets analyst for a new grad? In a regular COL city", "replies": [], "depth": 2}], "depth": 1}]