SA Salary ‘26

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