Bank of America Managing Director Salaries (2024)

FAQs

How much does a Managing Director at Bank of America make? ›

Total Salary Range for Bank of America Managing Director

The estimated total pay range for a Managing Director at Bank of America is $384K–$632K per year, which includes base salary and additional pay. The average Managing Director base salary at Bank of America is $282K per year.

Brian Moynihan (Jan 1, 2010–)

Bank of America / CEO

The average Managing Director base salary at J.P. Morgan is $298K per year. The average additional pay is $201K per year, which could include cash bonus, stock, commission, profit sharing or tips. How was this calculated?

A managing director is often in charge of winning deals, especially with large or important clients. They meet potential corporate clients and develop relationships, which can mean a lot of travel and time spent with influential people at other organisations.

The Managing Director sits at the highest level of the investment bank hierarchy, and he/she is responsible for the profitability of the bank.

The Investment Banking professional hierarchy is as follows: Analyst, Associate, Vice President (VP), Senior Vice President/Director/Principal, and Managing Director (MD).

A CFO manages the Corporate Finance department for a company, division, or a plant or a country with a minimum size of 500 employees. Here, we'll focus on small to medium CFOs that manage up to 10,000 employees. These CFOs are the most common, and the rank is equivalent to a Managing Director in the M&A team of a bank.

Investment Banking MD Salary (and Bonus)

An MD doing decently should earn at least $1 million per year, and sometimes a low multiple of that; the average range is probably $1 – $3 million.

To become an MD, you first have to land an entry-level job and then survive the highly competitive corporate culture of investment banks. Through hard work, commitment, and keen social skills, one can hope to get promoted through the ranks, all the way up to MD.

The estimated total pay range for a Managing Director at Citi is $441K–$731K per year, which includes base salary and additional pay. The average Managing Director base salary at Citi is $333K per year.

How long does it take to make managing director? ›

How long does it takes to become a managing director? It takes about 10 to 12 years to become a managing director.

A Managing Director is, on the other hand, among the highest leaders at an organization and usually functions under the CEO. They might also be part of the board of directors. The Managing Director is responsible for the day-to-day functioning of the company.

The reality is, management is a legitimately stressful role. Anyone who's worked even a short while in management can attest to that.

The salaries of Managing Directors in The US range from $46,470 to $960,480, and the average is $198,408.

Generally speaking, PayScale reports that managers earn salaries in the range of $40,000 to $112,000. By contrast, the median salary of those holding director-level positions was around $77,000 as of November 2021, according to PayScale.