Bonuses at EB M&A/Rx Platforms

For EBs that run both an M&A/Rx platform but separate the M&A and Rx groups (i.e. PJT/EVR/LAZ, etc.), how do bonus pools work at the analyst level? Are bonuses usually the same across M&A and Rx, or will Rx analyst bonuses be higher than M&A analyst bonuses this next year considering deal flow?

5,840 WSO Academy Investment Banking Session Reviews: 4.82/5

Class of '27 Dec 2025 Cohort

5.00/5

Investment Banking Other

“Working with Adam was an absolute pleasure. I was paired with him to prepare for a Renewable Energy Project Finance modelling test. He admitted that he was quite rusty in the space and did not know if he could provide significant value. However, this turned into the best WSO Mentor Session I've had by far. Adam was extremely helpful, kind and uplifting. He was able to find a previous, real model he had worked on, and we went through it together. It was incredibly helpful to have seen a real Project Finance model. He dove through it line-by-line - inputs, assumptions, debt financing, etc. We also started the call from a very high-level, discussing Revenues, Sources & Uses of Cash and Debt Financing in Project Finance. Overall, the call felt more like a conversation with an incredibly-helpful peer who was cheering me on. He also provided actionable takeaways following the call, and sent over additional resources to help me prepare. I will absolutely be sure to work with Adam again in the future!”

Class of '28 Sep 2026 Cohort

5.00/5

Investment Banking Mock Interview

“The mock interview was extremely useful and gave me a much clearer understanding of the areas I need to improve before upcoming interviews. I particularly appreciated how specific and constructive the feedback was, both on the technical questions and on the way I structured my behavioral answers. The interviewer created a realistic and challenging environment, which made the session especially valuable. I also found the comments on how to make my answers more concise, structured and convincing very helpful. Overall, it was a great opportunity to identify weaknesses, gain confidence, and understand how to approach future interviews more effectively.”

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Bonuses at EB M&A/Rx Platforms

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