DCM Salary Ranges

From what I understand, it is on par to coverage and M&A. Bonuses might be a bit lower but should be close enough for the first few years. Once you become more senior, the bonus difference becomes wider.

99% sure DCMs receive the same base as any other FO bankers, at lease in BB. Slightly lower in terms of bonus although I believe it to be pretty even at the junior level. 

I work in DCM at a BB and can opine.

My understanding is at the junior level, comp is the same across product groups and coverage groups.

Once you get to the more senior levels, usually director and above, is where the comp starts the differentiate. The base salaries are still likely the same at these level, but think that the bonus upside is much higher in M&A and coverage groups. As a general statement, I think the total comp as a senior banker would be the following highest to lowest: Coverage > M&A > ECM > DCM.

Don’t let this discourage you though - a solid MD in DCM at a top shop can still pull down $1mm per year.

I would also add the the lifestyle I’m DCM is much better compared to coverage or M&A - both at the junior level and as you progress through the ranks.

That was a big reason for getting into DCM, as I wanted a decent work/life balance. I don’t mind making a little less and having a life.

My bank hasn’t implemented a salary bump yet, so associate 1yr-3yr goes from ~$140k-$175k (not including bonus).

Bonus I would expect to be 50-75% of salary.

I wanted to see if this was somewhat inline with other banks, I don’t mind if it’s a little under given my team and culture is great.

What kind of hours do DCM folks work at the Associate/VP level?