Investment bankers can earn some hefty pay, helping to make it one of the most popular careers on Wall Street and the finance industry.
Here is everything you might want to know about what an investment banker does and how much someone can earn in the role.
What is an investment banker?
Investment banks work with companies, governments and institutions to help them raise money. Accordingly, investment bankers are advisors for everything from negotiating an acquisition, selling the company, issuing a corporate bond or company stock, underwriting financial transactions and more.
Like many roles in the finance industry, investment bankers have a well-defined hierarchy and pay structure, often ranging from investment banking analysts and associates to vice presidents and managing directors at the top.
Investment banking salary: How much do investment bankers get paid?
The average total compensation of an investment banker in the United States is $77,070 to $206,703, according to data from the professional social network Blind.
An investment banker’s total compensation typically includes a cash salary and bonus.
These are the 16 best-paying cities for investment bankers, across all levels, in the United States ranked by average total compensation, according to the more than 5 million verified professionals on Blind.
-
San Francisco Average total compensation: $206,703 Median total compensation: $152,500 Average salary: $120,046 Median base salary: $90,000
-
Houston Average total compensation: $202,926 Median total compensation: $170,000 Average salary: $131,980 Median base salary: $95,000
-
Milwaukee Average total compensation: $201,000 Median total compensation: $125,000 Average salary: $128,000 Median base salary: $95,000
-
New York Average total compensation: $197,537 Median total compensation: $155,000 Average salary: $128,477 Median base salary: $95,000
-
Minneapolis Average total compensation: $185,714 Median total compensation: $157,500 Average salary: $122,750 Median base salary: $102,500
-
Chicago Average total compensation: $171,252 Median total compensation: $150,000 Average salary: $110,500 Median base salary: $90,000
-
Nashville Average total compensation: $170,005 Median total compensation: $135,000 Average salary: $115,000 Median base salary: $85,000
-
Washington, D.C. Average total compensation: $157,500 Median total compensation: $105,000 Average salary: $105,000 Median base salary: $92,500
-
Los Angeles Average total compensation: $156,634 Median total compensation: $135,000 Average salary: $108,329 Median base salary: $85,000
-
Charlotte, N.C. Average total compensation: $153,086 Median total compensation: $132,500 Average salary: $101,195 Median base salary: $85,000
-
Boston Average total compensation: $149,227 Median total compensation: $152,500 Average salary: $97,159 Median base salary: $87,500
-
Palo Alto, Calif. Average total compensation: $143,000 Median total compensation: $135,000 Average salary: $106,428 Median base salary: $85,000
-
Atlanta Average total compensation: $140,114 Median total compensation: $125,000 Average salary: $94,314 Median base salary: $85,000
-
Dallas Average total compensation: $116,357 Median total compensation: $98,000 Average salary: $86,125 Median base salary: $82,500
-
Jacksonville, Fla. Average total compensation: $84,714 Median total compensation: $80,000 Average salary: $70,571 Median base salary: $65,000
-
Salt Lake City Average total compensation: $77,070 Median total compensation: $78,720 Average salary: $69,747 Median base salary: $60,000
Methodology
Blind analyzed the salaries and total compensation of investment bankers in the United States on its platform. Cities were ranked by the average total compensation, including cash salary and any bonuses. All data is self-reported by verified professionals on the professional social network Blind.
Also published on Teamblind’s blog