Unsurprisingly, pay for associates is far higher in New York and London than elsewhere. New York is offering the largest bonuses worldwide (80% of base salary vs. 58% for London). It is clearly a commitment from banks to junior staff to give them a flavour of their 70-100 hour weeks paying off!
But base salaries are substantially higher in London: $132,000 at Associate level vs. lower base salaries for Milan at $92,000. Frankfurt comes in the third position: An example of well-balanced remuneration with bonuses representing 50% of base salary.
Despite still being fairly junior and not having a direct deal-making capability, Associates in New York are clearly being incentivised to support their team in bringing deals home through aggressive profit-sharing.
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.