Investment Banker Salary by City

I am assuming you're asking for junior bankers. Compensation is not really geography dependent. It is, however, highly firm dependent. For example, in NY you could be at a small boutique that pays 70k-80k all in. Or you could even be at a large middle market or bulge bracket firm that has a terrible year and pays you 70k base salary but no bonus in a down year. On the high end, however, the word is that Centerview pays 1st years 80k base, 50k signing bonus and 2 50k half year bonuses, so there a first year makes 230k off the bat.

So really within the same city there could be 150k difference in all in gross pay for a 1st year investment banking analyst. The more firms in a city, the more variance in pay.

In general bulge brackets and large middle market firms all pay 70k base for first year. Then with signing and end of year bonus the range for most people should be 105k-135k all in gross. Poorly performing firms and small boutiques without great deal flow (or even those with good deal flow but less generous partners) will be lower than that number. BB's in a great year may be slightly higher for good performers. Middle market firms that perform well may be slightly higher to attract talent. Usually the elite boutiques top out the comp with 150k-165k all in fairly typical for good performers and significantly higher compensation for certain firms, analysts and years.

That being said, no matter where you are on that spectrum you are making plenty of money for someone first year out of college to both have fun and start saving. The most important thing when deciding a firm is if you like the people (that advice is constantly repeated on here, but very true).

Anyway do banking in a city and at a firm where you want to spend your time, because you will be spending your time there and the money will come either way, but much faster if you are happy.