Analyst 3 in M&A Comp Benchmarking

I’m an Analyst 3 (soon to be associate 1) at a middle market investment bank (compare to Nomura/BNP Paribas/Scotiabank) in nyc.

My total comp this year was 140k base but my bonus was only 60-70. So TC of 200-210k.

Have a feeling I’ve just been terribly underpaid, does anyone know what An3 bonuses are typically? Would welcome datapoints even if not from this cycle.

3 Comments
 

Based on the most helpful WSO content, here are some relevant datapoints for Analyst 3 (An3) compensation:

  1. Barclays M&A:

    • An3 (6-month stub): $95k base + $57.5k bonus (~120% of earned salary for half the year).
    • A2A promotes in the same group typically made $100k-$110k bonuses as An3.
  2. General Analyst 3 Data:

    • At bulge brackets, An3 top bucket bonuses have been reported in the range of $390k-$410k total comp, though this includes base and bonus combined.
  3. Boutique Maritime/Energy Focus:

    • An2 at a boutique: $90k base + $150k bonus, totaling $240k all-in.
  4. Barclays Coverage:

    • An2: $125k base + ~$75k bonus (mid bucket), with a range of ~$55k-$95k across buckets.

Your total comp of $200k-$210k seems slightly below the higher end of the market for An3 roles, especially in NYC. Bonuses for An3s at comparable firms often exceed $100k, particularly for top performers. It might be worth discussing your comp with your team or exploring other opportunities if you feel undervalued.

Sources: 2015-2016 salary & bonus discussion, Thoughts on Barclays Response to Goldman survey, 2022 Analyst Bonus Thread, 2023 Analyst Bonus Thread (IBD), BB Debt Capital Markets - Exit Opps / Comp

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

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