IB/PE Associate Comp (Base + Bonus) 2025/2026 - London vs. UAE?
Hi all,
Trying to get a realistic sense of first-year Associate compensation (base + bonus) for 2025/2026 in Investment Banking and Private Equity, comparing London and the UAE (Dubai/Abu Dhabi).
A bit of context on my situation: I’m a Chartered Accountant with ~4-4.5 years of post-qualification experience in M&A/Financial Due Diligence (Big 4 and boutique M&A advisory), currently based in Abu Dhabi. I’m working on a transition into IB/PE, and considering both the UAE market and a possible move to London to make that happen.
I know comp varies a lot by fund/bank size, strategy, and individual performance, but rough ranges would help me benchmark. A few things that would be useful:
• Base salary range for a first-year IB and PE Associate in each location
• Typical bonus range (and what drives the low vs. high end)
• Any notable difference between bulge-bracket/mega-funds vs. boutique/mid-market
• How UAE comp compares to London once you factor in the no-income-tax angle
If it helps calibrate: I’ve seen a base of around £75k-80k quoted for a first-year Associate role. Does that sound about right for London, or would it depend heavily on which bank/fund? And how would that translate to the UAE market?
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