Where's the best place (financially) to be a top M&A banker?

We have examined salary and bonus data from 106 Managing Directors working in Advisory/M&A globally.

Our findings reveal that:

  • New York is the most attractive location financially to be a senior M&A banker with average total compensation topping $1m and many bankers earning significantly more
  • London is the top paying European city with average compensation 10% ahead of Paris
  • London is also the top location globally in terms of base salary
  • New York is the most reliant on bonuses compared to other location

Key takeaways:

  • With EU bonus regulations coming into force, European locations have been gearing up for compliance with a lower proportion of total compensation coming from bonuses
  • We therefore expect an increasing gap in terms of the split between base pay and bonus between the US and EU markets
  • The lower earnings in Hong Kong may be compensated for by the significantly lower local tax rate


MD_salary_M&A_advisory MD_salary_bonus_M&A_advisory


Emolument provides bonus and salary statistics based on data submitted directly by professionals like you. It is free, anonymous, and already a trusted tool for thousands of professionals worldwide. Are you paid enough? Click here to find out now.

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