IBD Salaries in Madrid

Hi all, does anybody know what salary should be expected for an IB Associate position in Madrid (let's say in M&A/Capital Markets). I presume it varies a lot between BBs and non-BBs but I have no direct information and what I have found on here is a bit outdated. Thank you!

Comments (26)

Most Helpful
3y 
cruel3a, what's your opinion? Comment below:

Bulge Bracket banks salaries in Continental Europe are aligned to London. Base: Analyst 1 €65K, Analyst 2 €75K, Analyst 3 €85K. Associate should follow the same trend but I have no direct information in €.

I'm grateful that I have two middle fingers, I only wish I had more.
  • 2
3y 
PatrickBateman1, what's your opinion? Comment below:

Actually it's different for US banks. BAML JPM etc Analyst 1 base is 75

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3y 
chill09, what's your opinion? Comment below:

Indeed, but I heard similar numbers for Milan and Frankfurt at some of the BB so I think it is spot on. My personal feeling is that the gap BB vs non BB is way larger than in London (e.g. I don't think that Santander pay anywhere close to 85k for an analyst in Madrid). That's why I asked the question in the first place and it would be great if someone had some intel on non-BB banks or boutiques at analyst/associate level to have a more complete picture

3y 
Pictet, what's your opinion? Comment below:

I know analyst in Madrid in IBD is 35k at Barclays. Don't know about associate

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3y 
cruel3a, what's your opinion? Comment below:

That sounds off. A friend of mine at Barclays in Milan was making 85K euro base salary 3 years ago. Not sure why they would pay that low in Madrid.

I'm grateful that I have two middle fingers, I only wish I had more.
  • Analyst 1 in IB - Gen
2y 

Even at BBs some pay less than 1.500eur per month

MMs tend to pay from 600-1200eur for interns

2y 
Phenomenal, what's your opinion? Comment below:

That's same everywhere in continental Europe not sure about frankfurt. Interns get paid less than london

  • Senior Consultant in CorpStrat
2y 

I worked in IBD Madrid for 3 years in 2 banks and know the figures from a close friend on a 3rd one so I will post the salaries at 2018-2020 levels:

- Santander: pays analysts I, II and III 40k, 42k and 44k base respectively +50% bonus (very rigid as it's difficult to get less than 40% on the shittiest year but unlikely to go over 55-60%)

- Goldman: pays analysts 65k + bonus (30-90%)

- BBVA: pays analysts 35k + bonus similar to Santander

Hope it helps as there is not much true data out there for Madrid IBD.

2y 
LaNoob, what's your opinion? Comment below:

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2y 
French Hardo, what's your opinion? Comment below:

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