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!
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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.