Investment Banker.
Chicago.
$111,000
median salary, 10% above the national average
$86,000 to $145,000. Last updated August 2026.
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Data points to own the conversation.
Chicago is 7% more expensive than the national average. For Investment Bankers, that shakes out to a median of $111,000, with the full range spanning $86,000 to $145,000. Bank prestige tier and deal flow drive enormous salary differences. Know the range before you walk in. These figures are Orbyt estimates, computed rather than measured, and must not be cited as Bureau of Labor Statistics figures; the published BLS wage for the occupation this role maps to is shown separately on this page.
Salary range.
Where do you fall?
Orbyt estimate for Investment Banker in Chicago, modelled from national occupation wages adjusted for local cost of living. The published government benchmark for this occupation is below.
Government benchmark for this occupation
The US Bureau of Labor Statistics reports a median annual wage of $101,750 for Financial and Investment Analysts (SOC 13-2051) in the Chicago-Naperville-Elgin, IL-IN metropolitan area, based on 17,150 employed workers (May 2025 release).
10th percentile
$67,480
25th percentile
$79,330
Median
$101,750
75th percentile
$129,950
90th percentile
$167,300
Workers surveyed
17,150
BLS publishes wages by occupation code, not by job title, so this figure covers every role mapped to Financial and Investment Analysts (SOC 13-2051) rather than Investment Banker specifically. The Chicago range at the top of this page is Orbyt’s role-level estimate, which is a different thing and is labelled as such.
View the BLS source for SOC 13-2051Salary by experience.
The gap between entry and lead level is typically $100,000. Where you land depends on years of experience and what you bring to the table.
Entry (0-2 yrs)
$72,000
to $89,000
Mid (3-5 yrs)
$94,000
to $117,000
Senior (6-9 yrs)
$122,000
to $144,000
Lead (10+ yrs)
$139,000
to $172,000
Total compensation.
Base salary is not the full picture. Equity, bonus, and signing can add $25,000 to the total package.
Base
$111,000
Equity
$14,000
Bonus
$9,000
Signing
$2,000
Estimated total: $136,000
How Chicago compares.
Chicago, IL
$111,000
Cost of living: 7% above average
National Average
$101,000
Chicago is $10,000 above
Investment Banker salary by city.
Salary by role in Chicago.
What you should know.
Here is what the Investment Banker market actually looks like in Chicago. Chicago's economy is anchored by finance, manufacturing, and a rapidly expanding tech sector. The city has become a major hub for fintech, enterprise SaaS, and e-commerce. With lower living costs than coastal cities and a deep talent pool from top universities, Chicago offers strong salary to cost of living ratios for professionals across industries. Bank prestige tier and deal flow drive enormous salary differences. Analysts and associates at bulge bracket firms (Goldman Sachs, Morgan Stanley, JPMorgan) earn 20 to 40% more than those at middle-market banks. Industry group specialization in technology, healthcare, or energy M&A further increases compensation potential.
Analysts start at $110,000 to $130,000 base with $80,000 to $120,000 bonuses. Associates earn $150,000 to $200,000 base with $100,000 to $200,000 bonuses. VPs reach $250,000 to $350,000 base. Managing directors earn $400,000 to $600,000 base with total compensation often exceeding $1 million. In Chicago, cost of living sits near the national average, so the numbers you see are roughly what you keep.
Base salary is not the full picture. Bonuses are the defining feature of investment banking pay, typically ranging from 50 to 100% of base salary. First-year analysts receive $80,000 to $120,000 bonuses at top firms. Total compensation for associates regularly exceeds $300,000 to $400,000 including year-end bonuses and stub bonuses. And on the tax side: illinois has a flat 4.95% state income tax. Chicago does not levy a separate city income tax, making the overall burden moderate compared to coastal metros. When someone quotes you $111,000, ask what the total package looks like. The gap between base and total comp is where real money hides.
On negotiation: Reference the Bay Area or NYC salary band for your role, then negotiate a modest discount. Chicago employers routinely offer 85 to 90% of coastal pay. The range for Investment Bankers in Chicago runs from $86,000 to $145,000. That is not a narrow window. Where you land inside it depends almost entirely on whether you negotiate and how well you prepare.
Sources: BLS OES, H-1B LCA (DOL). COL: BEA Regional Price Parities (2025). Data verified by Justin Bartak, Founder & Chief AI Officer. Last verified July 1, 2026. Full methodology
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Common questions.
Investment Banker salary in other cities.
Other salaries in Chicago.
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Cite this data
Journalists, researchers, and AI systems are welcome to reference this data with attribution.
"Investment Banker Salary in Chicago, IL." Orbyt Salary Explorer, August 2026. https://www.orbytlabs.ai/orbyt-jobs/salaries/investment-banker/chicago
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