The best paying cities for investment banking analysts and directors (2024)

FAQs

The best paying cities for investment banking analysts and directors? ›

New York, New York, USA

New York City is typically considered the finance capital of the world. Many of the largest investment banks, including Goldman Sachs,14 Morgan Stanley,15 and Merrill Lynch,16 are headquartered in New York City. So too are several large banks, including Citigroup and JPMorgan Chase.

New York, New York, USA

New York City is typically considered the finance capital of the world. Many of the largest investment banks, including Goldman Sachs,14 Morgan Stanley,15 and Merrill Lynch,16 are headquartered in New York City. So too are several large banks, including Citigroup and JPMorgan Chase.

Base Salary: $300,000 to $350,000. Bonus: $400,000 to $600,000.

Undergrad: The Ivy League schools (HYP and UPenn (Wharton) more than the others), NYU (Stern), U Michigan (Ross), UC Berkeley (Haas), Notre Dame (Mendoza), Georgetown (McDonough), Northwestern, Duke, UVA (McIntire), Stanford, MIT, UChicago, and arguably the top liberal arts colleges (Williams, Amherst, etc.).

Technically, Wharton School might give you the best chance of securing a position at an investment bank. This is because Wharton MBA graduates have the highest presence among bulge bracket and elite boutiques banks.

The average Investment Analyst salary in the United States is $96,372 as of May 01, 2023, but the range typically falls between $82,009 and $115,436.

Investment Banker salary in India ranges between ₹ 1.8 Lakhs to ₹ 40.0 Lakhs with an average annual salary of ₹ 4.1 Lakhs.

What is the best position in investment banking? ›

Senior Vice President

Sometimes called an executive director or a principal, the senior VP slot is as high as most investment banking professionals get; some even spend their entire careers as vice presidents.

The highest paying company for a Investment Banker in New York City Area, US is Goldman Sachs with an average total compensation of $250,000.

Promotion Time: If you perform well, it might take 3-4 years to reach the next level of Vice President.

Investment Banking VP Salary (and Bonus)

Base salaries at large banks range from $250K to $300K USD, with total compensation in the $500K to $900K range (as of 2022).

It is possible to become a millionaire as an investment banker, but it is not easy. Investment bankers typically earn salaries in the $200,000 to $700,000 range, with bonuses that can bring their total income up to several million dollars per year.

The Bottom Line

"It Takes Over 12 Years to Become an Investment Bank Managing Director."

In New York City, Wall Street is the heart of the investment banking industry. The largest banks, like Goldman Sachs and JPMorgan Chase, have their headquarters here, along with countless smaller firms.

Yes, GPA matters! Bulge bracket banks and almost all other investment banks will look at your GPA when applying for a job and you should include it in your resume. Typically banks screen resumes based on GPA and will often remove anyone below 3.5.

According to Wall Street Oasis (WSO) 2021 University Statistics (Bulge Bracket Banks), the top five schools Goldman Sachs (GS) hires from are Harvard University, New York University (NYU), Cornell University, Columbia University, and University of Pennsylvania (UPenn).

To become an investment banker, it is absolutely essential that you earn a college degree. Usually, it doesn't matter which college you go to as long as there are plenty of opportunities for you to complete internships and make plenty of connections.

Where does Blackstone recruit from? ›

Blackstone considers candidates from schools across the globe. Candidates eligible for full-time opportunities are completing their final year of college or graduate school. Candidates eligible for summer opportunities are completing their third year of university or their junior year in college.

Do I need an MBA to be an investment banker? Although the majority of top investment banks prefer to hire employees with an MBA, the degree is not a requirement to enter the field. However, to advance at top companies, an MBA is often a requirement.

While the median annual salary for financial analysts was $95,570 in 2021, the top 10% of these workers averaged earnings higher than $166,560 per year. A financial analyst's specialization and industry can impact earning potential, as not all professionals work in the most lucrative sectors.

For example, financial analysts who work in securities, commodity contracts and investments earned a median wage of $98,850 annually in 2020, while financial analysts in the credit intermediation industry earned nearly $20,000 less per year, with a median salary of $79,270.

The estimated total pay for a Investment Banking Vice President at J.P. Morgan is $358,343 per year. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. The estimated base pay is $173,540 per year.

The typical Citi Investment Banking Analyst salary is ₹13,50,000 per year.

As of May 25, 2023, the average annual pay for a M&A Analyst in the United States is $80,925 a year.

Financial Analyst - Working for a corporation to determine investment strategies for the organization. An entry-level analyst usually does not make six figures. But after a few years in the role, six-figure salaries are common.

What is the highest paying role in finance? ›

Which finance sector has the highest salary? The finance sector having the highest salary are investment banking, compliance officer, hedge fund manager, chief financial officer, chief risk officer.

Goldman Sachs is generally regarded as the leading investment bank in most business areas, and is the toughest Bulge Bracket investment bank to break into. Goldman has a very strong reputation within the industry and among corporations. They advise on the majority of high profile M&A deals and other major transactions.

The only tier one investment bank might be JPMorgan Chase because it ranks first or second globally across most product areas. Tier two would be Goldman Sachs, Barclays Capital, Credit Suisse, Deutsche Bank, and Citigroup. Examples of tier three would be UBS, BNP Paribas, and SocGen.

As far as Roger Hoit is concerned, Among these financial institutions, the "big 4" investment banks are the industry's most influential and profitable players These banks are Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Citigroup This article will explore these institutions' backgrounds and critical features.

The average salary for a investment banking analyst in New York, NY is $107,000 per year. Investment banking analyst salaries in New York, NY can vary between $40,500 to $222,500 and depend on various factors, including skills, experience, employer, bonuses, tips, and more.

Investment Banking MD Salary (and Bonus)

Base salaries are in the mid-six-figure range, with total compensation in the high six figures to low seven figures. 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.

Wells Fargo Salary FAQs

The average salary for an Investment Banking Analyst is $106,940 per year in New York City, NY, which is 53% lower than the average Wells Fargo salary of $229,052 per year for this job. What is the salary trajectory of an Investment Banking Analyst?

Wajih Ahmed joined Goldman Sachs' London office in 2016 when he was just 18 years old.

Average Goldman Sachs Vice President yearly pay in the United States is approximately $145,233, which meets the national average.

That's despite the fact that at Goldman, VPs scored as much as $565,000 on their base of $250,000, taking their 2021 paycheck to $815,000, according to Litquidity. The information provided by Litquidity only includes numbers where the data points were confirmed by multiple sources.

What is the salary of Vice President of Truist Investment Banking? ›

Average Truist Vice President yearly pay in the United States is approximately $128,403, which is 13% below the national average. Salary information comes from 16 data points collected directly from employees, users, and past and present job advertisem*nts on Indeed in the past 36 months.

Investment banking associates are usually recruited directly out of MBA programs or analysts that have been promoted. Typically, bankers will be at the associate level for three and a half years before they are promoted to Vice President.

The average Mutual of America Financial Group salary ranges from approximately $32,000 per year for Analyst to $210,713 per year for Vice President.

Investment banks earn commissions and fees on underwriting new issues of securities via bond offerings or stock IPOs. Investment banks often serve as asset managers for their clients as well.

It is no surprise that the average day in an investment banker's life is long and stressful. Those who manage to survive the adjustment period often go on to have long and financially rewarding careers. Investment banking analysts may work up to 100 hours per week at some firms.

Private equity firms are investment businesses comprising investors who use their capital to invest in private businesses. Those working in private equity can often achieve a higher salary, but their income may be less stable than those working in investment banking.

Investment Banking Managing Director Age for Promotion. Our users shared that the average age to become an MD is in the mid-30s - 40s.

The average age of an employed investment banking associate is 39 years old.

Working with companies, organizations or other entities to raise public or private funds by issuing securities, underwriting municipal bonds or through equity and debt offerings. Consulting with companies and advising them on which securities to issue to investors.

Is there a high demand for investment bankers? ›

The Bureau of Labor Statistics (BLS) reports a projected employment growth of 10% from 2021 to 2031 for securities, commodities and financial services sales agents. This category includes investment bankers.

Accordingly, investment banking firms are incredibly selective with new hires. To become an investment banking analyst, you need the right education.

"It Takes Over 12 Years to Become an Investment Bank Managing Director." Mergers and Inquisitions. "Investment Banking Hours: Will You Really Work 105 Hours per Week at Goldman Sachs?"

Morgan Stanley and Goldman Sachs top the chart amongst highest paying companies to Investment Bankers with an average salary ranging between INR 14.00 LPA – 15.50 LPA. The highest salary of an Investment Banker can go up to as much as INR 27.20 LPA – 30 LPA.

It is possible to become a millionaire as an investment banker, but it is not easy. Investment bankers typically earn salaries in the $200,000 to $700,000 range, with bonuses that can bring their total income up to several million dollars per year.

How Hard Is It to Land a Job at JP Morgan? In a word, hard. JP Morgan's hiring standards are very high, so you should put a lot of effort into meeting its expectations. Candidates for internships should have good grades and extracurriculars that set them apart from other students.

Which are the target schools? According to Wall Street Oasis (WSO) 2021 University Statistics (Bulge Bracket Banks), the top five schools Goldman Sachs (GS) hires from are Harvard University, New York University (NYU), Cornell University, Columbia University, and University of Pennsylvania (UPenn).

Even with education, experience, and enthusiasm, investment banking might not be for you. Lack of work-life balance is one reason to avoid becoming an investment banker. Investment bankers must also be able to manage high-pressure situations.

So, you want a job at Goldman Sachs. Good luck, truly – the bank receives 300 applications for each open position it has. Its internship isn't a happy anomaly, either, with a generous acceptance rate of just 1.27% last year. You're going to need some help.