· 5 min read
JPMorgan Salary 2026: Investment Banking Analyst to VP Pay
JPMorgan pays investment banking analysts a median $115,000 base, associates $175,000 and VPs $285,000 in US H-1B filings. Its median employee made $111,905 in 2025.
JPMorgan pays an investment banking analyst a median base salary of $115,000, from $110,000 to $125,000, in its US H-1B filings from January 2025 to June 2026. Investment banking Associates are filed at $175,000 and Vice Presidents at $285,000. Those steps match the $110,000, $125,000 and $135,000 analyst scale JPMorgan set in 2022. Across the whole firm, JPMorgan's 2026 proxy puts its median employee's 2025 total pay at $111,905.
Where the numbers come from. Base salaries are from 43 analyst, 72 associate and other public US Department of Labor filings by JPMorgan Chase & Co., worked out in code. H-1B filings show base salary only: no bonus, signing bonus, profit sharing or benefits. Bonus figures come from the dated reports named next to them.
Investment banking pay by level
Filings titled "Investment Banking Analyst" or "Analyst, Investment Banking" and the same for Associate and Vice President, January 2025 to June 2026. Range is the 10th to 90th percentile.
| Level | Filings | Median base | Range |
|---|---|---|---|
| Analyst | 43 | $115,000 | $110K to $125K |
| Associate | 72 | $175,000 | $175K to $200K |
| Vice President | 7 | $285,000 | $215K to $285K |
JPMorgan raised analyst pay to $110,000 in the first year, $125,000 in the second and $135,000 in the third in 2022 (Banking Dive, January 19, 2022). The filings show all three. The Analyst median was $110,000 in 2025 filings and $115,000 in 2026 filings so far. The Associate, Software Engineer III median was $142,450 in 2025 filings and $140,850 in 2026 filings so far. The Vice President, Lead Software Engineer median was $163,909 in 2025 filings and $162,450 in 2026 filings so far.
Pay in markets and technology
The same corporate titles in two other parts of the bank:
| Title | Filings | Median base | Range |
|---|---|---|---|
| Vice President, Trader | 21 | $285,000 | $200K to $285K |
| Associate, Software Engineer III | 726 | $142,100 | $125K to $165K |
| Vice President, Lead Software Engineer | 912 | $163,000 | $144K to $190K |
A trader at vice president level is filed at $285,000, the same as a banking VP. Most of JPMorgan's H-1B filings are for engineers: 726 for Associate, Software Engineer III alone.
Bonus, total pay and hours
- 2025 bonus pools: JPMorgan, Goldman Sachs and Bank of America raised bonus pools for their bankers and traders by at least 10% for 2025 (Bloomberg, February 6, 2026).
- By business: Johnson Associates projected 2025 year-end incentives up 10% to 15% for M&A advisory, 15% to 25% for equity sales and trading and 5% to 15% for fixed income (Chief Investment Officer, November 10, 2025).
- Total pay by level at large banks in New York, 25th to 75th percentile (Mergers & Inquisitions, 2026 report): analysts $165,000 to $225,000, associates $285,000 to $500,000, vice presidents $525,000 to $800,000. These cover the industry, not JPMorgan alone.
For the whole firm, JPMorgan's 2026 proxy statement puts the median employee's 2025 total pay at $111,905, including firm-paid benefits, up from $108,218 for 2024. The pay comes with long weeks: JPMorgan began capping junior bankers at 80 hours in most weeks in 2024, with live deals exempt (Fortune, September 12, 2024).
How we got these numbers
US employers that hire someone on an H-1B visa must first file a Labor Condition Application with the US Department of Labor, stating the job title, work site and the wage they will pay. The DOL publishes every filing in its LCA disclosure data. We read the filings through h1bdata.info, a free search of that data, because the DOL's own quarterly files run to hundreds of MB. We read them on October 15, 2026.
- Filing window: filings submitted from January 2025 to June 2026, the latest the DOL has published.
- Filings counted: 1,781 across the rows shown, one per DOL case number.
- Job titles matched:
- Analyst: "Investment Banking Analyst, Analyst, Investment Banking" (43)
- Associate: "Investment Banking Associate, Associate, Investment Banking" (72)
- Vice President: "Vice President, Investment Banking" (7)
- Vice President, Trader: "Vice President, Trader" (21)
- Associate, Software Engineer III: "Associate, Software Engineer III" (726)
- Vice President, Lead Software Engineer: "Vice President, Lead Software Engineer" (912)
- Median: the middle filed salary for that title. Range: the 10th to 90th percentile, so a few unusual filings don't stretch it.
- Base salary only. An H-1B filing states the base wage. Bonuses, signing bonuses, profit sharing and benefits are not in it, so the bonus figures on this page come from the dated reports named next to them.
- Who is in it. Only roles filed for visa holders, at every US office. A filing is the wage the employer committed to pay, not proof of a hire.
- JPMorgan files under JPMorgan Chase & Co.
Searches read:
Getting the offer
JPMorgan's interviews mix fit and technical questions: start with our JPMorgan interview questions guide. Work through our investment banking interview questions, each with an example answer, and the technical questions guide. Then practice them out loud on the investment banking page, since a memorized answer often falls apart under a follow-up. If your first round is recorded, read our investment banking HireVue guide. See also investment banking analyst salary across banks, and Goldman Sachs salary and Morgan Stanley salary.
Sources
- US Department of Labor, H-1B LCA disclosure data, filings submitted January 2025 to June 2026, via h1bdata.info, read October 15, 2026
- Banking Dive, On JPMorgan's junior banker raises (citing Bloomberg), January 19, 2022
- Bloomberg, Goldman, JPMorgan Bankers See Bonus Pools Rise at Least 10%, February 6, 2026
- Chief Investment Officer (Michael Katz), on the Johnson Associates November 2025 projections, Certain Wall Street Bonuses to Rise by as Much as 25%, November 10, 2025
- Mergers & Inquisitions, 2026 Investment Banker Salary and Bonus Report, early 2026, covers year-end 2025
- JPMorgan Chase, 2026 proxy statement (SEC Form DEF 14A), pay ratio disclosure, 2026 Proxy Statement, April 2026
- Fortune, On JPMorgan's 80-hour cap for junior bankers, September 12, 2024
Frequently asked questions
How much does a JPMorgan investment banking analyst make?
A median base of $115,000 in the filings, on a scale of $110,000, $125,000 and $135,000 by analyst year. With bonus, industry reports put analyst total pay at $165,000 to $225,000 (Mergers & Inquisitions, 2026).
How much does a JPMorgan associate make?
Investment banking Associates are filed at a median base of $175,000, from $175,000 to $200,000. A software engineering Associate is filed at $142,100.
What is the average salary at JPMorgan?
JPMorgan's 2026 proxy statement puts the median employee's 2025 total pay at $111,905, including firm-paid benefits, across the whole firm.
Does JPMorgan pay more than Goldman Sachs?
For junior bankers the base is close: a $115,000 median at JPMorgan and $110,000 to $125,000 at Goldman, with associates at $175,000 and $175,000. Firm-wide, Goldman's median employee earns more ($160,667 against $111,905 in 2025). The firm-wide figures cover every employee, not just bankers.
Related guides
- Morgan Stanley Salary 2026: Analyst to Managing Director Pay
- Goldman Sachs Salary 2026: Analyst, Associate and VP Pay
- Investment Banking Analyst Salary 2026: Base and Bonus by Year and Bank
- Bank HireVue Interviews: What Each Bank Says, Plus Practice
- Three Statement Accounting Questions: 12 Worked Answers
- Accretion and Dilution Analysis: A Worked Example