2022 Consolidated US Investment Banking Base Salaries

By popular request, here is a consolidated thread of street base compensation. I will update this fairly regularly with any bumps or additional data I find. 

An1 focused bases are on the bottom part of the thread.

Last Update: 6/16/2022

Bulge Bracket

Bank of America: An1 110 / An2 125 / A1 175 / A2 200 / A3 225 / VP 275 / D 350 / MD 500

Barclays: An1 110 / An2 125 / A1 175 / A2 200 / A3 225

Citi: An1 110 / An2 125 / An3 125 / A1 175 / A2 200 / A3 225 / VP 275 / D 300 / MD 400

Credit Suisse: An1 110 / An2 125 / VP 275 / D 325

Goldman Sachs: An1 110 / An2 125 / A1 175 / A2 200 / A3 225 / VP 250

JP Morgan: An1 110 / An2 125 / An3 135 / A1 175 / A2 200 / A3 225 / VP 275

Morgan Stanley: An1 110 / An2 125 / An3 135 / A1 175 / A2 200 / A3 225 / VP 250

UBS: An1 110 / A1 175 / A2 200 / A3 225 / VP 275

Deutsche: An1 100 / An2 105 / A1 175 / A2 200 / A3 225 / D 350

Elite Boutique

Centerview: An1 130 / An2 140 / An3 150 / A1-3 300 

Evercore: An1 120 / An2 130 / An3 140 / A0 185  / A1 200 / A2 225 / A3 250 / VP 275

Lazard: An1 120 / A0 185 / A1 200 / A2 225 / A3 250 / VP 275

PJT: An1 120 / An2 130 / An3 150 / A1-3 250

Greenhill: An1 110

Guggenheim: An1 110

Moelis: An1 110 / An2 125 / A1 175 / A2 200 / A3 225 / VP 275

Perella Weinberg: An1 110 / An2 125 / An3 150 / A1 185 / A2 200

Industry Focused

FT Partners: An1 140 / An2 150

Ardea Parters: An1 135

Qatalyst: An1 120 / An2 130 / An3 140

LionTree: An1 115

SVB Leerink: An1 100

Middle Market/Boutique

Foros Group: An1 125

Rothschild: An1 120 / An2 130 / An3 150

Baird: AnStub 110 / An1-2 115 / A1 200

Cowen: An1 110

Harris Williams: An1 110 / An2 115

Jefferies: An1 110 / An2 125 / A0 150 / A1 175

Lincoln: An1 110 / An2 115 / An3 125

Macquarie: An1 110 / An2 120 / An3 130

Nomura: An1 110 / An2 125 / A0 140

Scotia: An1 110 / An2 115 / An3 120

TD Securities: An1 110

Wells Fargo: An1 110 / An2 125 / An3 135 / A1 175 / A2 200 / A3 225 / VP 250 / D300

William Blair: An1 110 / An2 115 / An3 125 / A1 175 / A2 200 / A3 225 / VP 275 / D 300

Cain Brothers: An1 105 / An2 115 / An3 125 / A1 175

Houlihan Lokey: An1 105 / An2 115 / An3 125 / A1 175 / A2 200 / A3 225 / VP 250

Raymond James: An1 105 / An2 110 / An3 125

BMO: An1 100 / An2 105 / A1 175 / A2 200

Canaccord Genuity: An1 100 / An2 110 / An3 120 / A1 160 / A2 180 / VP 245

Citizens Bank: An1 100

DC Advisory: An1 100 / An2 105 / An3 110

HSBC: An1 100 / An2 105 / An3 110 / A1 150 / A2 175 / A3 200 / A4 225

Mizuho: An1 100 / A1 175 / A2 200 / A3 225

Piper Sandler: An1 100 / An2 110 / An3 125 / A1 175

RBC: An1 100 / An2 105 / An3 110

Societe Generale: An1 100 / An2 105

Truist: An1 100 / An2 105 / An3 110 / A1 175 / A2 200 / A3 225

Oppenheimer: An1 90 / An2 100 / An3 110

Cantor Fitzgerald: An1 85

Analyst 1 Pay

-- Above Street Banks Are -- 

140: FTP

130: CVP

125: Ardea, Foros Group

120: EVR, LAZ, PJT, QAT, Roth 

115: LionTree


-- Street Banks Are --

110: BofA, Barc, Citi, CSGSJPM, MS, UBS, GHL, MOE, PWP, Baird, Cowen, HW, Jeff, Lincoln, Mac, Scotia, TD, WF, WB, Nomura


-- Below Street Banks Are --

105: HL, RJ

100: DB, SVBL, CG, Citizens, DC Advisory, Mizuho, PS, RBC, Truist, SocGen

90: Oppenheimer

85: Cantor Fitzgerald


Data was gathered mostly from WSO comments and Litquidity comp survey

 

Do you have the source for CS numbers? Is their A1/A2/A3 base really the highest among the BBs?

 
Most Helpful

So sorted by pay (for An1) that is..

-- Above Street Banks Are -- 

140: FTP

130: CVP

120: EVR, LAZ, PJT, QAT, Roth 

115: LionTree

-- Street Banks Are --

110: BofA, Barc, Citi, CS, GS, JPM, MS, UBS, GHL, MOE, PWP, Baird, Cowen, HW, Jeff, Lincoln, Mac, Scotia, TD, WF, WB,

-- Below Street Banks Are --

105: HL, RJ

100: DB, SVBL, CG, Citizens, Mizuho, PS, RBC, Truist

7.25/hr: Tobin & Co

 

It's now at 110 for 1st years, so I presume it's 115 and 120 for 2nd and 3rd years, respectively.

 

HL raised base for An1 twice during the past eight months, at least for the APAC offices. Given that most banks' global pay structures align those of the U.S., I'd be highly surprised if the salary raise only applied to the overseas offices but not the U.S. 

 

Does UBS go straight from An1 to A1 or is that just a lack of info? Would assume it’s two year then aso so are they just in line with other BBs?

 

Ik Cain Bros is 105/115/125 for An1,2,3 and 175 for As1 but not sure about the other two places

 

from my understanding, probably stay at 110. The banks at 120 (EVR, PJT etc) were always known for paying slightly above street

 

SocGen: An1 100, An2 105
BNP: An1 100

Source: WSO Database / Other threads

 

I'm an incoming analyst at Nomura and wasn't notified about pay bumps (signed at 100K last year). Are they sending out updated offer letters or something? 

 

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