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.

Are you an employer?

Hire and retain the best talent with accurate and reliable data

Benchmark Your Teams


Know what you're worth

Compare your compensation with peers in your industry


Back to Top