Harris Williams Analyst & Associate Salary
Complete compensation breakdown for investment banking professionals at Harris Williams, including base salary, bonuses, and total compensation at every level.
Last updated April 2026 · By the Superday AI editorial team
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Analysis
Harris Williams pays first-year analysts about $169K-$202K in total compensation for 2026, and its Richmond headquarters stretches that pay further than higher-dollar offers in Manhattan.
Key facts
- First-year analysts earn a $100,000 base salary plus a roughly $7K signing bonus.
- Year-end analyst bonuses run $48K-$75K, bringing first-year total compensation to about $169K-$202K in 2026.
- Associate total compensation scales to $200K-$250K.
- Harris Williams pays in the middle of the middle market tier, comparable to Lincoln International and William Blair but below Jefferies and Houlihan Lokey.
- After adjusting for housing, taxes, and daily expenses, an HW analyst's purchasing power can rival or exceed peers earning $20K-$30K more in Manhattan.
Base & Bonus
First-year analysts at Harris Williams earn a $100,000 base salary plus a roughly $7K signing bonus. The year-end bonus runs $48K-$75K, bringing total first-year compensation to about $169K-$202K in 2026. The bonus structure rewards consistency and teamwork rather than individual deal attribution, reflecting the firm's collaborative culture.
Richmond Cost-Of-Living Edge
What makes the firm's compensation distinctive is the cost-of-living advantage of being headquartered in Richmond, Virginia. After adjusting for housing, taxes, and daily expenses, an HW analyst's purchasing power can rival or exceed that of peers earning $20K-$30K more in Manhattan. The firm also benefits from PNC's corporate infrastructure, providing competitive benefits including 401(k) matching, health insurance, and paid time off that tends to be more generous than independent boutiques.
How It Compares
This places Harris Williams at the upper end of middle-market firms and close to regional bulge bracket pay, though it sits below the top-paying elite boutiques and bulge brackets in absolute dollars. Within the tier, pay is comparable to Lincoln International and William Blair but below Jefferies and Houlihan Lokey. Associate compensation scales to $200K-$250K in total comp, with the VP and director trajectory offering a strong lifestyle-adjusted earnings path.
The Total Value Case
For analysts considering long-term careers in advisory rather than pivoting to buy-side roles, Harris Williams offers one of the most attractive total value propositions in middle-market banking. The case holds when lifestyle, specialization depth, and compensation are weighed together. The firm's sector focus and deal volume also create strong skill development.
Analyst Compensation
First-year analysts at Harris Williams earn a base salary of $100,000 with a year-end bonus of $NaN - $NaN, bringing total first-year compensation to approximately $NaN - $NaN. Second-year analysts earn approximately $NaN - $NaN total comp, rising to $NaN - $NaN in the third year.
| Level | Base Salary | Year-End Bonus | Total Comp |
|---|---|---|---|
| Analyst 1 | $100,000 | $NaN - $NaN | $NaN - $NaN |
| Analyst 2 | $115,000 | $NaN - $NaN | $NaN - $NaN |
| Analyst 3 | $125,000 | $NaN - $NaN | $NaN - $NaN |
* Stub bonus of $NaN - $NaN may apply for analysts starting mid-year.
Associate Compensation
| Level | Base Salary | Year-End Bonus | Total Comp |
|---|---|---|---|
| Associate 1 | $150,000 | $NaN - $NaN | $NaN - $NaN |
| Associate 2 | $165,000 | $NaN - $NaN | $NaN - $NaN |
How Harris Williams Compares
Harris Williams pays in the middle of the middle market tier, comparable to Lincoln International and William Blair but below Jefferies and Houlihan Lokey. The firm's sector focus and deal volume create strong skill development.
Benefits & Perks
Meals & Transportation
Dinner expense reimbursement for late nights, car service in major offices after 9pm
Harris Williams Compensation Overview
Harris Williams' compensation reflects its positioning as a leading middle market M&A advisory firm focused exclusively on sell-side and buy-side transactions in the $50-500 million enterprise value range. The firm's sector-focused approach and high deal volume create robust learning opportunities and compensation tied to group performance. Analysts benefit from working on numerous transactions annually, gaining exceptional deal execution experience and client exposure. Harris Williams' culture emphasizes teamwork, professional development, and sustainable work practices, with compensation designed to attract talent who value skill development and culture alongside pay. The firm's PNC Financial Services ownership provides stability while maintaining the entrepreneurial culture of an independent advisory firm. Bonuses reflect sector group profitability and individual contribution to deal teams.
Frequently Asked Questions
What is the total compensation for a first-year analyst at Harris Williams?
First-year analysts at Harris Williams earn a base salary of $100,000 with a year-end bonus of $NaN - $NaN, bringing total compensation to approximately $NaN - $NaN.
How do Harris Williams bonuses compare to other Middle Market banks?
Harris Williams pays in the middle of the middle market tier, comparable to Lincoln International and William Blair but below Jefferies and Houlihan Lokey. The firm's sector focus and deal volume create strong skill development.
Does Harris Williams pay overtime?
Yes, Harris Williams does pay overtime to eligible analysts, which can meaningfully increase total compensation.
More Harris Williams Resources
Sources
- Harris Williams - Careers. Harris Williams (accessed 2026-05-14)
- Johnson Associates - Compensation Reports. Johnson Associates (accessed 2026-05-14)
- Wall Street Bonus Pool to Grow as Bank Revenue Boosted by Rally (2025). Bloomberg (accessed 2026-05-14)