ECM book comp?

Based on the most helpful WSO content, compensation in ECM (Equity Capital Markets) varies by role and seniority. For someone managing the ECM book, likely at a senior level (e.g., VP+), the compensation structure typically includes a base salary and a significant bonus component tied to performance metrics like deal flow, IPO allocations, and client relationships.

Here’s a breakdown of average total compensation for ECM roles:

• Vice President (VP): ~$392K
• Director/Managing Director (MD): ~$592K

These figures include both base salary and bonuses. Bonuses in ECM are often influenced by the success of IPOs, placements, and the ability to monetize firm relationships effectively. While the "free money" from IPO allocations and commissions can be lucrative, the actual payout depends on the firm's performance, deal volume, and individual contribution to the book's success.

Sources: Investment Banking vs. Capital Markets - How different are they?, Investment Banking vs. Capital Markets - How different are they?, How are JPM PE exits, Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, ECM Exit Opportunities