Are you in the best city for M&A and Advisory Associates?
New York, New York!
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!
London: a safer bet?
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.
City | Base Salary | Bonus |
---|---|---|
New York | $125,000 | $100,000 |
London | $132,000 | $77,000 |
Frankfurt | $108,000 | $54,000 |
Dubai | $125,000 | $33,000 |
Paris | $101,000 | $52,000 |
Singapore | $115,000 | $38,000 |
Zurich | $126,000 | $27,000 |
Milan | $92,000 | $51,000 |
Madrid | $98,000 | $40,000 |
Source: Emolument.com
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