Salaries for Investment Banks & Hedge Funds for London & New York 2023–2024

In this article, we’ll delve into the average salaries and bonuses for various front-office roles within investment banks and hedge funds, across both London and New York.

The total compensation in New York is usually about 15%-30% higher than in London. However, this comes with the caveat of longer working hours in New York, coupled with a only 10 days of annual leave — which is often not fully utilized. Conversely, in London, employees typically enjoy 25 days of annual leave, which they typically use in full.

These number come from various sources online such as: efinancialcareers, mergersandinquisitions.com, Wall Street Prep, Selby Jennings, as well as conversations with people in the industry.

Investment Bank (Front Office: Global Markets & Investment Banking) Salaries — London

Analyst

Analyst 1

• Salary: ~£68k ($86k)
• Bonus: ~30–60%
• Total: £88k-£108k ($111k-$137k)

Analyst 2

• Salary: ~£75k ($95k)
• Bonus: ~30–60%
• Total: £97k-£120k ($123k-$152k)

Analyst 3 (you may be promoted directly to Associate after Analyst 2)

• Salary: ~£87k ($110k)
• Bonus: ~30–60%
• Total: £113k-£139k ($143k-$176k)

Associate

Associate 1

• Salary: ~£110k ($139k)
• Bonus: ~50–75%
• Total: £165k-£192.5k ($209,550 — $244,975 USD)

Associate 2:

• Salary: ~£123k ($156)
• Bonus: ~50–75%
• Total: £184k-£215k ($233,680 USD to $273,050 USD)

Associate 3:

• Salary: ~£135k ($171k)
• Bonus: ~50–75%
• Total: £202k-£236k($256,540 USD to $299,720 USD.)

Vice President

Vice President 1

• Salary: ~£150k ($190k)
• Bonus: ~50–100%
• Total: £225k-£300k ($286,575 USD to $382,100 USD.)

Vice President 2

• Salary: ~£160k ($203k)
• Bonus: ~50–100%
• Total: £240k-£320k ($304,800 USD to $406,400 USD)

Vice President 3

• Salary: ~£170k ($215k)
• Bonus: ~50–100%
• Total: £255k-£340k ($323,850 USD to $432,800 USD)

Investment Bank (Front Office: Global Markets & Investment Banking) Salaries — New York

Analyst 1:

• Salary: ~$100k
• Bonus: ~30–60%
• Total: $129k-$158k

Analyst 2:

• Salary: ~$110k
• Bonus: ~30–60%
• Total: $142k-$176k

Analyst 3 (you may be promoted directly to Associate after Analyst 2)

• Salary: ~$127k
• Bonus: ~30–60%
• Total: $165k-$203k

Associate

Associate 1:

• Salary: ~$160k
• Bonus: ~50–75%
• Total: $242k-$283k

Associate 2:

• Salary: ~$180k
• Bonus: ~50–75%
• Total: $270k-$317k

Associate 3:

• Salary: ~$197k
• Bonus: ~50–75%
• Total: $297k-$346k

Vice President

Vice President 1:

• Salary: ~$219k
• Bonus ~50–100%
• Total: $330k-$441k

Vice President 2:

• Salary: ~$234k
• Bonus: ~50–100%
• Total: $353k-$471k

Vice President 3:

• Salary: ~$249k
• Bonus: ~50–100%
• Total: $375k-$502k

Hedge Funds (Front Office role) — London

Compensation within hedge fund roles exhibits significant variability, primarily influenced by the PnL performance of the team. Below are some indicative figures:

Junior Quantitative Researcher (0–2 years)

Salary: £75k-£150k ($95k-$190k)

Total: £150k-£300k+ ($190,500-$381,000+)

Quantitative Researcher (2–5 years)

Salary: £125k-£200k ($158k-$254k)

Total: £250k-£400k+ ($317,500-$508,000+)

Senior Quantitative Researcher (5–10 years)

Salary: £150k-£250k ($190k-$317k)

Total: £300k-£600k+ ($381,000-$762,000+)

Hedge Funds (Front Office role) — New York

Junior Quantitative Researcher (0–2 years)

Salary: ~$110k — $219k

Total: ~$220k — $438k+

Quantitative Researcher (2–5 years)

Salary: ~$182k — $293k

Total: ~$364k — $585k+

Senior Quantitative Researcher (5–10 years)

Salary: ~$219k — $364k

Total: ~$438k — $875k+

Conclusion

This article provides basic salary expectations across various roles for various front-office investment bank and hedge fund roles in London and New York. While these figures offer a guideline, it is important to remember that actual compensation can vary based on numerous factors.

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