BB/EB compensation in Madrid

Hi everyone,


I’m finishing a master’s in finance this year and my goal is to work in IB BB/EB in Madrid. I’ve done research but couldn’t find much info about total compensation in Madrid (signing+base+bonus). I hope you guys could give some insight.


Thanks in advance!

 

I mean speaking for bulges / top boutiques+MM firms, it's hard to say what these numbers are given the seats are likely far and few in between. Larger hubs in the europe area such as london or frankfurt may be decent proxies on a currency-adj basis

 

Salaries are not that standard in Spain, some BBs pay way less than in London and same for EBs. A few are in line with Ldn

 
Most Helpful

Investment banking entry-level salaries in Spain: all figures in euros.

1) BB, EB (Lazard, Rothschild, PJT, HL, Evercore) and few Tier 2 banks (Nomura, French banks, don't know if someone else): 55-75k Analyst 1 (some firms have a signing bonus of 5-10k), bonus dependent on the bank and performance but still kind of standardized for junior bankers (from 30% to 60% in the very best case). Most firms are between 60-65k, I only know a single bank that pays 75k and another one that pays 70k (both BB not GS/JP/MS).

2) Top Spanish banks: Santander and BBVA, big names in Spain, long hours in relation to salaries paid (around 40-45k base, no idea about bonus, I heard that at BBVA analyst salary is flat during the 3 years).

3) Spanish elite boutiques: here I assume that AZ Capital has the big edge and should be close to the low tier of the first group or even matching it (50-55k). Alantra and Arcano might pay around 35-40k with a good bonus (50% or so, they have strong dealflow especially Alantra in recent times).

4) Regional boutiques: not sure here - Socios Financieros or Optima Corporate are two firms that I'd put in this category but not sure about salaries - they might be in the range of 30k with a decent bonus in doog years but this is mostly a guess.

5) Big 4 Corporate Finance: in the range of 30k (some a bit more, some a little less). Bonuses between 20%-50%. PwC does not have M&A positions for juniors, instead you have to join the Deals Grad Programme.

Hope this helps and maybe someone can provide more info.

 

Est nisi ut sit molestiae nobis. Sed pariatur neque itaque et.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $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
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
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...”