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Morgan Stanley Analyst & Associate Salary
Complete compensation breakdown for investment banking professionals at Morgan Stanley, including base salary, bonuses, and total compensation at every level.
$110,000
$215,000 - $255,000
$345,000 - $395,000
Analyst Compensation
| Level | Base Salary | Year-End Bonus | Total Comp |
|---|---|---|---|
| Analyst 1 | $110,000 | $80,000 - $110,000 | $215,000 - $255,000 |
| Analyst 2 | $125,000 | $100,000 - $135,000 | $225,000 - $260,000 |
| Analyst 3 | $135,000 | $110,000 - $150,000 | $245,000 - $285,000 |
* Stub bonus of $15,000 - $25,000 may apply for analysts starting mid-year.
Associate Compensation
| Level | Base Salary | Year-End Bonus | Total Comp |
|---|---|---|---|
| Associate 1 | $175,000 | $120,000 - $170,000 | $345,000 - $395,000 |
| Associate 2 | $200,000 | $150,000 - $220,000 | $350,000 - $420,000 |
How MS Compares
Morgan Stanley matches Goldman Sachs at the top of bulge brackets. Compensation runs 10-15% ahead of Bank of America and Citi, and meaningfully higher than European banks like Barclays and Deutsche Bank.
Benefits & Perks
Meals & Transportation
Dinner after 7pm, car service after 8pm
MS Compensation Overview
Morgan Stanley's compensation structure emphasizes stability and predictability within the bulge bracket tier. The firm historically maintains lockstep with Goldman Sachs on base salaries and bonus ranges, though bonuses can vary by group performance. MS is known for its strong wealth management integration, which provides additional internal mobility and long-term career benefits. The bonus pool is distributed with attention to both individual performance and group profitability, meaning analysts in M&A and equity capital markets often see the highest payouts. Overtime policies are consistently applied, and the firm has invested in improving analyst experience, which is reflected in retention bonuses and mid-year adjustments for top performers.
Frequently Asked Questions
What is the total compensation for a first-year analyst at Morgan Stanley?
First-year analysts at Morgan Stanley earn a base salary of $110,000 with a year-end bonus of $80,000 - $110,000, bringing total compensation to approximately $215,000 - $255,000.
How do MS bonuses compare to other Bulge Bracket banks?
Morgan Stanley matches Goldman Sachs at the top of bulge brackets. Compensation runs 10-15% ahead of Bank of America and Citi, and meaningfully higher than European banks like Barclays and Deutsche Bank.
Does Morgan Stanley pay overtime?
Yes, Morgan Stanley does pay overtime to eligible analysts, which can meaningfully increase total compensation.