Compensation across cities for IB Analysts
Do starting salaries/salary progression vary across cities such as NYC, Chicago, LA, and Houston?
I will have a middle-tier BB SA internship (Think Citi, CS, BofA) where the base salary is 85k in one major city--outside of NYC. I have heard from some of my friends in the same BB in NYC that they will receive a base salary of 110k. I don't know if this varies from sophomore to junior SA internships or if it's generally adjusted for the cost of living.
It can vary, but most of the well-established groups provide the same base pay and progression across different cities if they have a major office in that city.
Boutiques and satellite offices may have more variable compensation
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