As of 2014, the average salary for investment bankers ranges from $70,000 (for first-year analysts) to several million dollars, which managing directors normally earn. Bonuses factor heavily in the average salary values, regardless of the banker's seniority.
The salaries vary depending on the firm and the part of the country wherein the firm operates. Bonuses normally start at 10-50 percent of the salary, but can eventually grow up to three times the salary. Analysts work between 80 to 120 hours a week. They start their work during summer and receive bonuses during June or July the following year. On the other hand, associates work 10-20 percent shorter hours and receive higher bonuses.