Sell-Side Macro Research Associate Comp

A friend of mine (econ PhD from a top school and currently working at the fed) is interviewing for a sell-side macro research role at a BB and is getting close to getting an offer. Any idea what's market for total comp for Associate 2 or 3? My buddy doesn't know a lot of people in finance so I was tasked with figuring that out for him, but I don't really know what people get paid on the research side so any guidance would be appreciated.

5 Comments
 
Best Response
Just wondering if things are any different for macro research as the comp range people are mentioning don't seem super competitive. Judging by these thread, teaching (especially bschool), think thanks, IMF / World Bank and even the fed are either competitive or pay above wall street

I'm not sure what data you're reading but first year comp for a BB analyst (post MBA) is 170-220k. The upside comes in years 3-5 where income can ramp up to 300-500k. After that it varies a lot depending upon your performance. I don't think the Fed or IMF is paying that well.

 
"models_and_bottles"

Just wondering if things are any different for macro research as the comp range people are mentioning don't seem super competitive. Judging by these thread, teaching (especially bschool), think thanks, IMF / World Bank and even the fed are either competitive or pay above wall street

I'm not sure what data you're reading but first year comp for a BB analyst (post MBA) is 170-220k. The upside comes in years 3-5 where income can ramp up to 300-500k. After that it varies a lot depending upon your performance. I don't think the Fed or IMF is paying that well.

If you check the threads quoted in the first reply (I put them back again below), consensus seemed to be 150ish at the associate level bonus moving up to ~220K at the VP level which is what I was referring to.

//www.wallstreetoasis.com/forums/post-mba-equity-research-comp-at-bb //www.wallstreetoasis.com/forums/total-comp-for-bulge-bracket-equity-rese…

 

Ad quisquam nostrum tempore quis quia et eum perspiciatis. Voluptas enim dolorem voluptate eveniet dignissimos est.

Harum voluptatibus ea ratione dolor quis. Exercitationem vero fuga sit minus non. Ex sunt voluptas omnis est illum. Rerum consectetur ut asperiores ut sapiente.

Rerum iusto quia vel et. Sed quas explicabo placeat ipsam quaerat. Maxime et vitae sapiente qui. Dignissimos deserunt suscipit in et rerum cupiditate deserunt.

Career Advancement Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.2%

Overall Employee Satisfaction

July 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.3%
  • Banco Santander 02 97.7%
  • BMO Capital Markets 12 97.2%

Professional Growth Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.3%
  • Goldman Sachs 01 97.7%
  • JPMorgan 01 97.2%

Total Avg Compensation

July 2026 Investment Banking

  • Vice President (16) $429
  • Associates (46) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (80) $150
  • Intern/Summer Analyst (73) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
Betsy Massar's picture
Betsy Massar
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”