William Blair Analyst & Associate Salary
Complete compensation breakdown for investment banking professionals at William Blair, including base salary, bonuses, and total compensation at every level.
Figures re-verified July 2026 against 2025-26 bonus-cycle data · By the Superday AI editorial team
Preparing for William Blair? Practice with Real Questions
Master the technical and behavioral questions to maximize your chances.
$100,000
$162,500 - $189,500
$268,000 - $308,000
Analysis
William Blair pays first-year analysts a $100,000 base plus a roughly $7.5K signing bonus and a $55K-$82K year-end bonus, for total first-year compensation of about $162.5K-$189.5K in the 2025-26 cycle.
Key facts
- First-year analysts earn a $100,000 base salary, a roughly $7.5K signing bonus, and a $55K-$82K year-end bonus.
- Total first-year analyst compensation lands around $162.5K-$189.5K in the 2025-26 cycle.
- Year-two analysts move to a $115,000 base with a $65K-$92K year-end bonus, and year-three analysts reach a $125,000 base with a $72K-$102K year-end bonus.
- First-year associates earn a $155,000 base, a $35,000 signing bonus, and a $78K-$118K year-end bonus, totaling $268K-$308K.
- William Blair pays competitively with Piper Sandler and Robert W. Baird, below Jefferies and Houlihan Lokey, with partnership track opportunities that create long-term value.
Base & Bonus
First-year analysts start at a $100,000 base salary, in line with the industry standard, plus a roughly $7.5K signing bonus. The year-end bonus runs $55K-$82K and is competitive with other leading middle market banks, though it typically falls below bulge bracket and elite boutique levels. The bonus culture rewards consistent contributors and team players, matching the firm's relationship-oriented values.
Total Compensation
Total first-year analyst compensation comes to about $162.5K-$189.5K in the 2025-26 cycle — base plus signing plus the first full-year bonus. Progression is well-structured: year-two analysts earn a $115,000 base for a $180K-$207K total, and year-three analysts reach a $125,000 base for a $197K-$227K total. First-year associates earn a $155,000 base plus a $35,000 signing bonus for a $268K-$308K total. Pay increases from analyst to associate are clear and meaningful.
How It Compares
William Blair pays competitively with Piper Sandler and Robert W. Baird in the middle market tier, below Jefferies and Houlihan Lokey, but with partnership track opportunities that create long-term value beyond base compensation. Relative to New York-based middle market peers, total compensation is broadly comparable, and the firm has adjusted pay to stay competitive for top talent. Among Chicago-based financial firms, William Blair is one of the most competitive, and the lower cost of living means take-home pay stretches further.
What Drives Pay
Where William Blair differentiates is the consistency and predictability of its compensation. Diversified revenue across advisory, growth equity, and asset management provides more stability than pure-play advisory firms. The firm also pays overtime. For candidates who value strong culture, genuine mentorship, and competitive pay without the extreme lifestyle demands of the largest banks, William Blair offers a compelling total compensation proposition.
Analyst Compensation
First-year analysts at William Blair earn a base salary of $100,000 with a year-end bonus of $55,000 - $82,000, bringing total first-year compensation to approximately $162,500 - $189,500. Second-year analysts earn approximately $180,000 - $207,000 total comp, rising to $197,000 - $227,000 in the third year.
| Level | Base Salary | Year-End Bonus | Total Comp |
|---|---|---|---|
| Analyst 1 | $100,000 | $55,000 - $82,000 | $162,500 - $189,500 |
| Analyst 2 | $115,000 | $65,000 - $92,000 | $180,000 - $207,000 |
| Analyst 3 | $125,000 | $72,000 - $102,000 | $197,000 - $227,000 |
Methodology: year-1 totals are base + signing + first full-year bonus for the 2025-26 cycle, compiled from self-reported data (WSO bonus threads, H1B filings, Levels.fyi, Glassdoor). Bucket spread at the same bank can run $30-50K top to bottom; figures for firms with limited public disclosures, and year 2+ and associate rows, are directional estimates.
Associate Compensation
| Level | Base Salary | Year-End Bonus | Total Comp |
|---|---|---|---|
| Associate 1 | $155,000 | $78,000 - $118,000 | $268,000 - $308,000 |
| Associate 2 | $170,000 | $98,000 - $138,000 | $268,000 - $308,000 |
How William Blair Compares
William Blair pays competitively with Piper Sandler and Robert W. Baird in the middle market tier, below Jefferies and Houlihan Lokey but with partnership track opportunities that create long-term value beyond base compensation.
Benefits & Perks
Meals & Transportation
Dinner expense reimbursement for late nights, car service in major markets after 9pm
William Blair Compensation Overview
William Blair's compensation philosophy reflects its unique structure as a privately held partnership with a long-term orientation and culture emphasizing sustainable growth. The firm balances competitive middle market pay with significant non-monetary benefits including partnership opportunities, quality of life, and a collaborative culture. Analysts working in the firm's strong sector groups (technology, healthcare, consumer) often see bonuses at the higher end of ranges due to robust deal flow. Blair's partnership structure creates clearer paths to ownership than corporate-owned banks, with compensation philosophies designed to attract and retain talent who value long-term career building over short-term cash maximization. The firm's focus on growth equity and M&A advisory in innovation sectors provides exposure to high-quality clients and transformative transactions. Total comp figures cited here reflect base salary plus signing bonus plus the first full-year bonus.
Frequently Asked Questions
What is the total compensation for a first-year analyst at William Blair?
First-year analysts at William Blair earn a base salary of $100,000 with a year-end bonus of $55,000 - $82,000, bringing total compensation to approximately $162,500 - $189,500.
How do William Blair bonuses compare to other Middle Market banks?
William Blair pays competitively with Piper Sandler and Robert W. Baird in the middle market tier, below Jefferies and Houlihan Lokey but with partnership track opportunities that create long-term value beyond base compensation.
Does William Blair pay overtime?
Yes, William Blair does pay overtime to eligible analysts, which can meaningfully increase total compensation.
More William Blair Resources
Sources
- William Blair - Careers. William Blair (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)