Looking for info on IB in Spain (salary, BB vs boutiques)

I'm an MSc in Finance graduate starting an off-cycle internship at a MM boutique in Madrid (mostly M&A). I expect to become a FT analyst after 6 months. What is the average salary for first year analysts in Madrid? I can't really find any info on this. Is there a big difference between BBs and boutiques? I guess the BBs only have regional offices in Madrid.. whereas working for a boutique like mine would enable me to gain more deal exposure. What's your take on this?

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Comments (4)

  • Analyst 1 in IB - Gen
Aug 12, 2020 - 10:51am

It really depends on what type of MM are we talking about

Is it AZ / Alantra / HL if so you will be paid nice but quite below BBs.

If not expect for a low salary, even local banks underpay their staff. Expect to be paid similar to a Big4 in the best case scenario

Thats why the safe bet is to go for a BB/EB in Spain

Aug 12, 2020 - 3:42pm

I did the MSc in Finance of Carlos 3 and landed the job networking. I'm expecting somewhere in the range of 30-45k and have no idea about bonus if there is any. Any idea about the type of work that is done in the BBs? I'm afraid since they are regional offices that most of the interesting work is done in London.

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