Evercore is now the highest-paying investment bank for juniors with base-comp bump to $120,000 for first-year analysts

• Evercore has bumped base comp to $120,000 for first-year analysts.
• The move makes Evercore the investment bank with the highest base pay for first-year analysts on the Street.
• Second-year analysts base comp has also been bumped to $130,000.

Evercore just bumped its base comp for junior bankers to make it the top-paying investment bank for first- and second-year analysts.

Current first- and second-year investment-banking analysts were told internally on Tuesday they would see raises their base salary up to $120,000 and $130,000, respectively, three sources told Insider. It was not clear when the raises would take effect, or if they would be backdated.

It was also not clear what their previous base comp was, but these raises position Evercore as Wall Street’s top payer for juniors among its investment-banking peers.

A spokesperson for Evercore declined to comment.

Insider first reported that Evercore told incoming 2022 first-year IB analysts they would earn $110,000 in base comp and a $15,000 start bonus, according to two sources familiar with the situation and an offer letter that Insider reviewed.

It is unclear whether Evercore will upgrade their incoming analysts to the $120,000 level that current analysts are set to earn.

There have been a slew of pay raises for junior bankers across Wall Street that dates back to the spring. Goldman Sachs, HSBC, and Lazard all announced pay bumps for analysts and associates.

At Lazard, Morgan Stanley, UBS, Deutsche Bank, PJ Solomon, Barclays, and JPMorgan, entry-level investment bankers now take home $100,000 in base pay.

William Blair is paying first-year analysts $110,000, and Goldman is paying first-year analysts at least $110,000.