We received 900+ responses to the 2023 compensation survey, of which 98% were from investment banking professionals.
The data was cleaned and standardized across roles, titles, geographies and bank sizes. Results are summarized from Analyst through Group Head. In some cases, results are not shown due to limited responses.
Please note, the data we received is based on user submissions. If some data points are missing or seem off, it may be because a) we do not have a significant number of data points to get an accurate result b) data provided may be inaccurate.
Key Findings
- Bonuses were down Y-o-Y across almost all levels, mid-level Associates and VPs took the brunt of the hit.
- Avg Associate 2 bonuses fell by a whopping 35% this year. Avg VP3 bonuses, fell by 36%.
- The range of bonuses paid out (both between groups and within the same group) was very large.
- Bankers in regional offices took a 12-15% larger financial haircut than those in NYC or SF.
- Elite Boutiques paid out the highest Avg Total Comp. Elite Boutiques also had the highest % of Deferred Comp vs. their peers.
- Bulge Bracket bankers made an Avg of 79 Cents on the Dollar vs Elite Boutique bankers at the same level. Middle Market bankers made an Avg of 73 cents on the dollar.
- Middle Market Analyst 3s, Associate 1/2s had higher Avg Total Comp vs. Bulge Bracket bankers at the same level.
