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Below is a rough guide to investment banking compensation at various levels of seniority. From analysts to managing directors, the pay is traditionally heavily weighted toward the investment banking bonus portion of the compensation which is part of the reason for such long hours.

At the analyst level, it is not uncommon to work between 80 to 120 hour weeks at some firms. Most analysts start in the summer and receive their first investment banking analyst bonus around June or July, approximately one year after the analyst starts working. Analysts also often receive a signing bonus from $5k to $20k as well as a moving bonus if they are transferring laterally to a different bank.

See below for an estimated range of current investment banker compensation.

At the associate level, the hours are usually still long, however, traditionally 10-20% less than that of analysts. Some associates are internal promotes, but the majority have attained an MBA. Associates also receive a sign on bonus traditionally from $10k to $30k, and a stub bonus. Each firm is different, but traditionally since Associates usually start in the Fall and the first bonuses are paid in the Spring, the stub bonus is for three to six months of work.

The compensation for Vice Presidents and Managing Directors is much more variable, but is usually much more of a function of the firm's performance. At the more senior levels, investment banking pay is based more off of individual revenue generating performance.

See below for an estimated range of current investment banker compensation.

investment banking compensation

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