What are the realistic bonus ranges for Analyst / Associates?

Hi all, new to banking but have heard mixed messages from people on the kind of bonuses across junior ranks (within same banks). Just wanted to get an idea about what realistically the bonus bands are. Please separate our cash comp vs stocks/deferred. Format below:

[Type of bank - EB/BB/MM/Canadian/Other - if you can name the bank then even better]

Analyst 1 - Base: $110k, Cash Bonus: [$xx] - [$xx]
Analyst 2 - Base: $120k, Cash Bonus: [$xx] - [$xx]
Analyst 3 - Base: $135k, Cash Bonus: [$xx] - [$xx]
Associate 0 - Base: $175k, Cash Bonus: [$xx] - [$xx]
Associate 1 - Base: $175k, Cash Bonus: [$xx] - [$xx]
Associate 2 - Base: $200k, Cash Bonus: [$xx] - [$xx]
Associate 3 - Base: $225k, Cash Bonus: [$xx] - [$xx]

2 Comments
 

Based on the most helpful WSO content, here are realistic bonus ranges for Analysts and Associates in Investment Banking. Note that these figures are primarily for cash bonuses, as stock/deferred compensation is typically more common at senior levels or varies by firm:

Analyst Bonus Ranges:

  • Analyst 1: Base: $110k, Cash Bonus: $18k - $30k (varies by group performance and bank type)
  • Analyst 2: Base: $120k, Cash Bonus: $20k - $40k
  • Analyst 3: Base: $135k, Cash Bonus: $27k - $90k (top bucket bonuses can be significantly higher)

Associate Bonus Ranges:

  • Associate 0 (Stub): Base: $175k, Cash Bonus: ~$100k (all cash for stub bonuses)
  • Associate 1: Base: $175k, Cash Bonus: $30k - $110k
  • Associate 2: Base: $200k, Cash Bonus: $55k - $150k
  • Associate 3: Base: $225k, Cash Bonus: $100k - $225k (100% cash in some cases)

Notes:

  1. Cash vs. Stock/Deferred: For Analysts and Associates, bonuses are predominantly cash. Stock or deferred compensation is rare at these levels unless explicitly stated by the bank.
  2. Bank Type Impact: Elite Boutiques (EBs) and top-tier Bulge Brackets (BBs) tend to offer higher bonuses compared to Middle Market (MM) or Canadian banks.
  3. Performance Buckets: Bonuses are heavily influenced by individual and group performance, with top-bucket performers receiving significantly higher payouts.

Let me know if you'd like further breakdowns by specific banks or additional details!

Sources: https://www.wallstreetoasis.com/forum/investment-banking/bonus-season-comps?customgpt=1, Bonuses for Investment Banking 2017, 2019/2020 Corporate/Commercial Banking Compensation, Bonuses for Investment Banking 2017, BB Debt Capital Markets - Exit Opps / Comp

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

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