Investment banking analyst salary, in real numbers

First-year analyst base pay has three tiers in 2026: $110,000 at most of the street (Goldman Sachs, J.P. Morgan, Morgan Stanley, Jefferies, Houlihan Lokey, Moelis), $120,000 at Evercore, Lazard and PJT Partners, and $130,000 at Centerview. Citi posts a $100,000–$135,000 range and Bank of America a $72,000–$110,000 band that covers every campus analyst program. The bonus decides the rest: dated 2026 reports put all-in at roughly $165k–$225k at the large banks and $180k–$250k at the elite boutiques. Every number below comes from a New York posting, a Department of Labor filing, levels.fyi or a dated compensation report.

12 programs tracked · Last verified October 10, 2026 · See the full IB List →

Every posted IB analyst salary band

Ordered by ranking. Click through to any company for the full band, sourcing, and hiring status.

#	Company	Base salary (posted)	Total comp (est.)
1	Evercore	$120k	$180k–$250k
2	Centerview Partners	$130k	—
3	Goldman Sachs	$110k–$115k	$165k–$225k
4	PJT Partners	$120k	—
5	J.P. Morgan	$110k–$115k	$165k–$225k
6	Morgan Stanley	$110k	$165k–$225k
7	Moelis & Company	$110k	$180k–$195k
8	Lazard	$120k	$180k–$195k
9	Houlihan Lokey	$110k	$175k–$205k
10	Jefferies	$110k	$185k–$215k
11	Citi	$100k–$135k	$150k–$190k
12	Bank of America	$72k–$110k	$165k–$185k

Posted base bands, compared

Citi

$100k–$135k

Centerview Partners

$130k

Evercore

$120k

PJT Partners

$120k

Lazard

$120k

Goldman Sachs

$110k–$115k

J.P. Morgan

$110k–$115k

Morgan Stanley

$110k

Moelis & Company

$110k

Houlihan Lokey

$110k

Jefferies

$110k

Bank of America

$72k–$110k

don’t post salary ranges and are omitted from the chart.

Common questions

About $110,000 in base. Nine of the twelve banks here post or file a first-year base between $110,000 and $120,000, Centerview sits at $130,000, and only Citi ($100,000–$135,000) and Bank of America ($72,000–$110,000) post a band that dips below. Mergers & Inquisitions’ 2026 report puts New York large-bank analyst total compensation, base plus year-end bonus, at $165k–$225k between the 25th and 75th percentiles.

Centerview, by most accounts: $130,000 base per Department of Labor filings, plus a reported $50,000 signing bonus tied to a three-year commitment, and a first-year package widely described as the richest on the street. Among banks with a verifiable all-in figure, Evercore leads at $180k–$250k, followed by Jefferies ($185k–$215k, an upper-end estimate), Houlihan Lokey ($175k–$205k) and Lazard and Moelis ($180k–$195k for top-bucket first-years).

Large relative to base. Dated 2026 reports put first-year bonuses at roughly $55k–$110k at large banks (Bank of America’s levels.fyi median bonus is $60k, Citi’s average $42k, Morgan Stanley’s median $35.5k), $65k–$95k at Houlihan Lokey, $75k–$105k at Jefferies, and higher at the elite boutiques, where top-bucket first-years clear $180k all-in on a $110k–$120k base. Bonuses are paid at the end of the first full year and vary by bucket, so medians run below these top-end figures.

Yes, pro-rated. Jefferies, Lazard and Moelis state the full-time base on the summer posting (‘$110,000, pro-rated for the 10-week program’; ‘approximately $120,000, pro-rated’; ‘Expected Salary: USD $110,000’), Morgan Stanley posts $52.89 an hour, Evercore posts the same $120,000 range on its summer and full-time reqs, and PJT posts $120,000 on both. Summer analysts do not receive the year-end bonus, but a returning full-time offer typically includes a signing bonus.

Land the offer, not just the interview.

Practice IB technical and fit questions, mock interview with peers, and learn the frameworks bankers actually score you on.

Take the IB course Practice interview questions

Investment banking analyst salary, in real numbers

Every posted IB analyst salary band

Posted base bands, compared

Common questions

Browse IB analyst jobs

Salary & hiring by company

Interview guides

More job lists

Land the offer, not just the interview.

Follow Us