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Based on the most helpful WSO content, here's a breakdown of summer analyst salaries and how they are structured across BBs and EBs:

Pro-Rated Salaries

  • Goldman Sachs (GS): $85k pro-rated + overtime at ~$23/hour. Includes a $1,500 stipend.
  • PJT Partners & Lazard: $85k pro-rated with no overtime. Lazard offers a $2k stipend, while PJT does not.
  • Moelis & Evercore: $95k base pro-rated. However, the hourly rate may not be as competitive due to the high workload.

Hourly Salaries

  • Bank of America (BAML): Among the lower-paying BBs. You need to work significant overtime hours to reach the $85k pro-rated equivalent. Offers a $2,000 housing stipend.

Additional Notes

  • Pro-rated salaries are calculated by taking the annual base salary of a first-year analyst and dividing it into weekly or hourly pay. For example, an $85k salary divided by 52 weeks equals ~$1,634 per week. Assuming a 60-hour workweek, this translates to ~$27/hour.
  • Some firms, like GS in the US, do not offer overtime for most divisions, while others like BAML do.

If you're targeting top BBs or EBs, the pro-rated salaries are generally consistent, but the stipends and overtime policies can vary significantly.

Sources: Investment Banking Summer Analyst Salaries 2017, Which firms have the best/worst compensation for summer analysts?, 20 Most Frequently Asked Questions - London Edition, 2015 IBD Summer Analyst Comp

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

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Career Advancement Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 08 97.8%
  • Goldman Sachs 02 97.3%

Overall Employee Satisfaction

August 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.4%
  • Banco Santander 02 97.8%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

August 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 07 98.4%
  • Goldman Sachs 01 97.8%
  • JPMorgan No 97.3%

Total Avg Compensation

August 2026 Investment Banking

  • Vice President (16) $429
  • Associates (50) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (25) $178
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (75) $101
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