Investment bankers' salaries vary significantly depending on their level of experience, position, and location, but here is a detailed overview based on recent data:
Typical Salary Ranges by Position (U.S. Market, 2025)
- Analyst (Entry-level, 22-27 years old): Base salary ranges from $100,000 to $125,000, with total compensation including bonuses between $160,000 and $210,000 annually
- Associate (3-4 years experience): Base salary typically $175,000 to $225,000, with total compensation around $275,000 to $475,000
- Vice President (VP, 3-4 years post-associate): Base salary $250,000 to $300,000, total compensation $500,000 to $700,000, though some firms pay more
- Director / Senior Vice President: Base salary $300,000 to $350,000, total compensation $600,000 to $800,000
- Managing Director (MD): Base salary $400,000 to $600,000, total compensation $800,000 to $1.6 million or more, with some top MDs earning over $2 million
Bonuses typically constitute 65-80% of base salary and increase with seniority and deal performance
International Salary Examples
- Germany: Analysts earn around €80,000 base, with total compensation approximately €115,000 including bonuses
- France (Paris): Entry-level salaries €55,000–€75,000; senior bankers over €500,000
- UK (London): MDs typically earn between £400,000 and £900,000, with rare cases exceeding £2 million for top group heads
Career Progression and Salary Growth
- Investment bankers generally start as analysts, progressing to associate after 2-3 years, then VP, director, and MD over roughly 7-10 years.
- Compensation grows substantially with seniority, deal flow, and ability to generate new business.
- Making over $1 million annually is typically achieved at the VP/SVP/MD level, but reaching top-tier million-dollar compensation is rare and depends heavily on individual performance and firm
Summary
Investment bankers in major financial centers like New York can expect total compensation ranging from about $160,000 as entry-level analysts to over $1 million annually at senior managing director levels. Bonuses form a significant part of pay and vary with market conditions and deal success. Internationally, salaries are generally lower but competitive relative to local markets
