Evercore Analyst & Associate Salary

Evercore pays at the very top of the street for junior bankers, and has done so consistently for the past decade. First-year analyst total compensation at Evercore typically runs $190,000-$230,000 all-in, with base salaries at $120,000 (a step above the bulge bracket $110,000) and year-end bonuses ranging from $70,000 for median performers to $110,000+ for top-bucket. This puts Evercore $20,000-$50,000 ahead of bulge bracket year-one comp at the median.

The reason elite boutiques pay above bulge brackets is fundamentally about revenue per banker. Evercore generates substantially higher advisory revenue per professional than the bulge brackets — there is no underwriting, no proprietary trading, no wealth management, just advisory fees split across a much smaller headcount. The boutiques also use compensation aggressively as a recruiting weapon against the bulge brackets.

Bonus stratification is intense: top-bucket Evercore analysts can earn 50-100% more than bottom-bucket peers in the same class. Group performance matters as well — restructuring analysts in 2023 and 2024 saw outsized bonuses given the deal cycle. Signing bonuses for full-time analysts have run $10,000-$20,000 in recent years.

The firm's two-and-out culture is real but evolving: Evercore has increasingly invested in analyst-to-associate retention, with structured A-to-A promotion, accelerated paths for top performers, and meaningful associate-level compensation increases (third-year analyst total comp can approach $300,000, and first-year associate comp can clear $400,000 in strong years).

Evercore sets the compensation standard among elite boutiques, with bonuses consistently exceeding bulge bracket peers by 30-50%. The firm's pure-play advisory model means analysts receive a direct share of deal fees without dilution from trading or capital markets operations. First-year bonuses regularly reach $150K+, and top performers can approach $200K. The meritocratic culture rewards individual contributions, and face time with MDs on client meetings accelerates learning. While base salaries match the street, all-in compensation positions Evercore at the top of the market. The trade-off is intense hours and high expectations, with analysts expected to be transaction execution experts from day one. Exit opportunities into megafund private equity are unmatched.