TD Securities Analyst & Associate Salary
Complete compensation breakdown for investment banking professionals at TD Securities, including base salary, bonuses, and total compensation at every level.
Last updated April 2026 · By the Superday AI editorial team
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$105,000
$160,500 - $185,500
$274,000 - $314,000
Analysis
TD Securities pays US first-year analysts a $105K base plus a $48K-$73K year-end bonus, for total 2026 compensation of about $160.5K-$185.5K, with steadier bonuses and better hours than US bulge brackets.
Key facts
- US first-year analysts earn a $105K base, a $7.5K signing bonus, and a $48K-$73K year-end bonus, totaling about $160.5K-$185.5K in 2026.
- Canadian-based analysts receive a CAD 80K-90K base with bonuses producing total comp of CAD 120K-155K.
- US associate compensation ranges from $185K-$250K.
- Analysts typically work 60-75 hours per week, compared to 80-100 at the most demanding US firms.
- Bonuses run 35-45% below Goldman and JPMorgan, and 25-35% below Bank of America and Citi.
Base & Bonus
US first-year analysts earn a $105K base salary, a $7.5K signing bonus, and a year-end bonus of roughly $48K-$73K. Canadian-based analysts receive a CAD 80K-90K base, with bonuses producing total comp of CAD 120K-155K, in line with Canadian bank peers. Bonuses at TD are less variable than at advisory-focused firms because the bank's diversified revenue from rates, credit, and capital markets smooths out the cyclicality that pure M&A shops experience.
Total Compensation
Total first-year analyst compensation comes to about $160.5K-$185.5K in 2026 for US-based hires. US associate compensation ranges from $185K-$250K, with a long-term trajectory that benefits from TD's stability and promote-from-within culture. The compensation philosophy is steady, competitive, and sustainable rather than boom-and-bust.
How It Compares
TD Securities sits in the middle-market tier alongside BMO and other Canadian banks. Bonuses run 35-45% below Goldman and JPMorgan, and 25-35% below Bank of America and Citi. The headline numbers are lower than the highest-paying US firms, but work-life balance is measurably better: analysts typically work 60-75 hours per week, compared to 80-100 at the most demanding firms.
Benefits & Perks
Benefits are a genuine strength at TD, including strong retirement plan matching, thorough health coverage, and vacation policies that are generous by North American banking standards. The bank also offers tuition reimbursement and professional development programs that support CFA and other credential pursuits. For candidates who prioritize career sustainability, full benefits, and a bank that rewards loyalty and precision, TD Securities offers a total package that competes effectively despite lower headline numbers than the highest-paying US firms.
Analyst Compensation
First-year analysts at TD Securities earn a base salary of $105,000 with a year-end bonus of $48,000 - $73,000, bringing total first-year compensation to approximately $160,500 - $185,500. Second-year analysts earn approximately $181,000 - $206,000 total comp, rising to $201,000 - $231,000 in the third year.
| Level | Base Salary | Year-End Bonus | Total Comp |
|---|---|---|---|
| Analyst 1 | $105,000 | $48,000 - $73,000 | $160,500 - $185,500 |
| Analyst 2 | $118,000 | $63,000 - $88,000 | $181,000 - $206,000 |
| Analyst 3 | $128,000 | $73,000 - $103,000 | $201,000 - $231,000 |
Associate Compensation
| Level | Base Salary | Year-End Bonus | Total Comp |
|---|---|---|---|
| Associate 1 | $158,000 | $86,000 - $126,000 | $274,000 - $314,000 |
| Associate 2 | $182,000 | $106,000 - $156,000 | $288,000 - $338,000 |
How TD Securities Compares
TD Securities sits in the middle-market tier alongside BMO and other Canadian banks. Bonuses run 35-45% below Goldman and JPMorgan, and 25-35% below Bank of America and Citi.
Benefits & Perks
Meals & Transportation
Meal stipend, transportation support
TD Securities Compensation Overview
TD Securities offers middle-market compensation reflecting its position as a top Canadian bank with selective US presence. Base salaries are competitive with middle-market US peers, while bonuses reflect TD's emphasis on sustainable banking and work-life balance. The firm has strong sector franchises in natural resources, energy, and financial institutions, where bonuses can reach the higher end of ranges. TD's conservative risk culture and focus on relationship banking mean bonuses are typically more stable but modestly lower than aggressive US peers. Analysts appreciate the firm's training programs and collegial culture. Exit opportunities are strong into Canadian corporate roles and resource-focused private equity.
Frequently Asked Questions
What is the total compensation for a first-year analyst at TD Securities?
First-year analysts at TD Securities earn a base salary of $105,000 with a year-end bonus of $48,000 - $73,000, bringing total compensation to approximately $160,500 - $185,500.
How do TD Securities bonuses compare to other Middle Market banks?
TD Securities sits in the middle-market tier alongside BMO and other Canadian banks. Bonuses run 35-45% below Goldman and JPMorgan, and 25-35% below Bank of America and Citi.
Does TD Securities pay overtime?
Yes, TD Securities does pay overtime to eligible analysts, which can meaningfully increase total compensation.
More TD Securities Resources
Sources
- TD Securities - Careers. TD Securities (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)