Finance Salary Guide 2026
Investment banking, private equity, and hedge fund compensation for 2026. Base salaries, bonuses, and total comp by level.
$110K
IB Analyst 1 Base
$250K+
IB Analyst 1 Total
$400K+
PE Associate 1 Total
$500K+
HF Analyst Total
Investment Banking 2026
Bulge bracket and elite boutique compensation. All figures in USD.
| Level | Base | Bonus | Total Comp | Hours/Wk |
|---|---|---|---|---|
| Analyst 1 | $110,000 | $90,000-$140,000 | $200,000-$250,000 | 80-100 |
| Analyst 2 | $125,000 | $100,000-$170,000 | $225,000-$295,000 | 75-95 |
| Analyst 3 | $140,000 | $120,000-$200,000 | $260,000-$340,000 | 70-90 |
| Associate 1 | $175,000 | $100,000-$200,000 | $275,000-$375,000 | 70-85 |
| Associate 2 | $200,000 | $150,000-$275,000 | $350,000-$475,000 | 65-80 |
| Associate 3 | $225,000 | $175,000-$325,000 | $400,000-$550,000 | 60-75 |
| VP | $275,000 | $200,000-$500,000 | $475,000-$775,000 | 55-70 |
Private Equity 2026
Megafund and upper middle market PE compensation. Carry adds significant long-term value.
| Level | Base | Bonus | Carry | Total (excl. carry) |
|---|---|---|---|---|
| Associate 1 | $175,000 | $125,000-$225,000 | Yes | $300,000-$400,000+ |
| Associate 2 | $200,000 | $175,000-$300,000 | Yes | $375,000-$500,000+ |
| Senior Associate | $250,000 | $200,000-$400,000 | Yes | $450,000-$650,000+ |
| VP | $325,000 | $250,000-$600,000 | Yes | $575,000-$925,000+ |
| Principal | $400,000 | $400,000-$1,000,000 | Significant | $800,000-$1,400,000+ |
Note on Carry: Carried interest can add significant value over time (often $1M+ over a fund's life at senior levels), but it's illiquid and depends on fund performance.
Hedge Funds 2026
Hedge fund comp is highly variable. Top performers at top funds earn multiples of these figures.
| Level | Base | Bonus | P&L Link | Total Range |
|---|---|---|---|---|
| Analyst | $150,000-$200,000 | 50-150% of base | Yes for some | $225,000-$500,000+ |
| Senior Analyst | $200,000-$300,000 | 100-300% of base | Yes | $400,000-$1,200,000+ |
| PM | $300,000-$500,000 | Based on P&L | Significant | $500,000-$5,000,000+ |
Key point: HF comp is bimodal. Median analyst might make $300K while top performers at the same fund make $1M+. Performance is everything.
Bank-by-Bank Comparison
How Analyst 1 total comp compares across top banks in 2026.
Historically highest
Top quartile bonuses
Strong deal flow
Competitive with GS
Largest class
Slightly lower
EB premium
Top of street
Highest per capita
Best in class
Rx groups higher
Competitive
Rx & M&A tracks
Very strong
Restructuring premium
Solid
What's Changed for 2026
Base Increases
Analyst 1 base now $110K at most BBs (up from $100K). Elite boutiques at $115K+.
Bonus Normalization
After 2021-2022 highs, bonuses settling into new normal. Still above pre-COVID.
Stub Bonuses
Starting bonuses (stubs) for summer analysts converting to FT remain competitive.
PE Premium
PE compensation continues to outpace banking at associate level, especially with carry.
HF Variance
Hedge fund comp most variable. Top performers make multiples of banking peers.
Land the Offer First
Compensation doesn't matter if you don't get the job. Prepare properly.