Investment Banking in Madrid

1) USA (NY)
2) UK (London)

I imagine Paris comes in at 3rd, but how is Madrid viewed?

General thoughts such as comp, hours, prestige, exit ops…

Im in the application process for a few BBs and EBs in Madrid stating Jan-22.

Currently at no-name boutique (graduated), wanna move to a BB or EB, then do MBA in US and eventually get into PE - and wondering if working in Madrid (converting to FT after internship) would get me into a top MBA programme.

Comments (5)

Oct 22, 2021 - 3:07pm

Student applying for SAs here but know the basics.

Comp: a bit higher than London in BBs, lower cost of living.

Hours: same as London, maybe a bit better?

On exit opps: there is always going to London, largecap PE is pretty elitist, strong MM PE developing.

On MBAs, MBB and IBs (although the latter not that common) in Spain have it pretty easy to get into top US MBA programs (think of HBS, Columbia, MIT, UChicago). Know of an engineer in a small Madrid boutique who went to one of those, now in Citi Madrid.

Most Helpful
  • Consultant in Consulting
Oct 25, 2021 - 6:46am

IB in Madrid is a pretty solid regional scene. Most work will be focus in Iberia or Europe (some LatAm depending on the firm) and mainly from a handful of BBs/EBs, some MMs but mostly local boutiques. Compensation is not on par with London; what I think people mean is that the compensation to cost of living ratio is MUCH better than in London. You can start with a GBP 50K base in London, and a EUR 40K base in Madrid, but that EUR 40K goes much further in Spain. Hours are quite comparable, but it depends on the firm. Culture also varies. Anecdotally speaking, I have heard some horrible things about the treatment of Juniors in Spain from places such as Lazard and a couple American BBs but it is also group and time period dependent. I would say IB in Madrid is probably 5th in Europe (behind London, Paris, Frankfurt and Milan) but significantly lower on a global science (behind HK, Singapore and a few other financial hubs). All things considered, it isn't a bad place to be and you can certainly lateral to another major city once you have experience or to local/European PE funds. 

  • Analyst 2 in IB - Gen
Nov 4, 2021 - 12:57am

Temporibus ut qui quod odit dolore. Dolorum et et qui consectetur non odit numquam. Adipisci porro et iure voluptatem voluptas minima.

Esse animi sunt quibusdam dolor et enim. Ad totam dolor atque optio quam veritatis. Deserunt deserunt quam accusantium enim commodi culpa dolorem.

Earum hic iusto quia temporibus corporis nostrum corrupti. Deserunt corporis repellat unde exercitationem.

Saepe officiis eum qui incidunt animi qui. Harum laudantium temporibus ut mollitia in modi earum. Placeat eligendi similique sint sed laborum at.

Start Discussion

Total Avg Compensation

January 2022 Investment Banking

  • Director/MD (5) $604
  • Vice President (20) $379
  • Associates (140) $240
  • 2nd Year Analyst (83) $154
  • 3rd+ Year Analyst (15) $150
  • 1st Year Analyst (290) $142
  • Intern/Summer Associate (60) $142
  • Intern/Summer Analyst (223) $89