Trending Content - Investment Banking Forum
Career Resources
WSO Free Modeling Series - Now Open Through
August 31, 2026
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
High Finance Applications
Guaranteed
Get at least one offer GUARANTEED
- 1:1 support
- 92% success rate
- 2,000+ mentor network
- Unlimited Live bootcamps
- AI for resume + LinkedIn
- Networking automation tools
- HireVue simulation tool
- Full course library
- Private Slack community
- 20hrs of mocks
- + much more...
Based on the most helpful WSO content, here's what you need to know about MD compensation in Mid-Market M&A teams at RBC, National, and CIBC in Canada:
Total Average Compensation for Investment Banking Director/MD:
Breakdown of Compensation:
Comparison with Bulge Bracket (BB) and Elite Boutique (EB):
Variability:
In summary, while $500k-$700k might seem high for Mid-Market IB, it aligns with the average compensation figures provided for MDs in investment banking roles. The actual compensation can vary based on individual performance, the specific firm, and market conditions.
Sources: https://www.wallstreetoasis.com/forum/investment-banking/qa-md-in-ma-and-capital-markets-with-bulge-bracket-and-boutique-experience?customgpt=1, BB vs EB total compensation, Q&A: MD in M&A and Capital Markets with Bulge Bracket and Boutique experience, Canada IB Pay Increase?, High Profile IB MDs in Canada
Anyone?
Bump, personally feels like it would be more tbh. I feel like all MDs at a known MM, BB, EB with even average deal flow make minimum $1m+. Could be wrong though hence the bump
if theyre on the middle market specific team (usually at a BB) they probs get paid less. dont think any EB's have that team, but if anyone has more info would be interesting
Not as familiar with how it works in Canada or at those specific banks but can provide some insight into MD comp in general. MD's comp at all levels is highly variable. I believe bases are somewhere between $175-$300k depending on the bank/MD (ignore group heads or C-Suite MD's in this scenario), everything beyond that is largely variable. Consider that MD's % of fees typically vary from ~5-35% depending on if they sourced the deal, who ran the process, and if there were other groups/MD's involved. Obviously there are some other factors such as overall group/bank performance bonuses but difficult to predict and often not nearly as material as a direct % bonus from a fee. Can start to get a better idea of comp using this formula, but ultimately if the MD is not sourcing/running any successful deals, they likely are not making a substantial amount more than their base.
bump
Nesciunt doloribus dicta porro ea iste cumque voluptate. Odit in nihil asperiores magni sunt. Ipsam maxime autem totam in quos eum et. Labore aut aliquam eligendi dolorem. Soluta laboriosam voluptatem consequuntur omnis perferendis.
Dolorem recusandae tempora eaque et. Tenetur qui excepturi qui.
Ipsa voluptates est voluptas in molestias explicabo magni harum. Aperiam reprehenderit repellat excepturi facere magni quisquam. Quod cupiditate commodi laborum dolorem quae qui et officiis. Maxime aspernatur illo eos quam. Velit voluptatem voluptas nam dolorem. Illum velit eveniet labore sit sunt dolores. Alias rerum et illo accusantium laboriosam quaerat rem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...