Investment Banker · Salary Comparison · 2026
Investment Banker Salary: Minneapolis, MN vs Austin, TX
Side-by-side comparison of salary, taxes, cost of living, and take-home pay for Investment Bankers in Minneapolis, MN and Austin, TX, based on BLS OEWS 2026 data.
1Which City Pays More After Tax?
Higher Gross Salary
✓ Austin, TX
$139,000 vs $154,000
Better Purchasing Power
✓ Minneapolis, MN
$125,225 vs $124,194
Best Take-Home (COL-Adj)
✓ Austin, TX
$107,840 vs $114,755
2
Detailed Comparison
| Metric | Minneapolis, MN | Austin, TX | Diff |
|---|---|---|---|
| Median Annual Salary | $139,000 | $154,000▲ | -$15,000 |
| 25th Percentile | $107,030 | $118,580▲ | -$11,550 |
| 75th Percentile | $177,920 | $197,120▲ | -$19,200 |
| 90th Percentile | $222,400 | $246,400▲ | -$24,000 |
| Cost of Living Index | 111 | 124 | -13 |
| State Income Tax | 6.8% | 0%▲ | +6.8% |
| COL-Adjusted Median | $125,225▲ | $124,194 | +$1,031 |
| Est. Annual Take-Home | $119,702 | $142,296▲ | -$22,594 |
| COL-Adj. Take-Home | $107,840 | $114,755▲ | -$6,915 |
| Total Employment | 17,600 | 30,400 | -12,800 |
▲ = Higher value wins for this metric. Diff = Minneapolis, MN minus Austin, TX.
3Summary Analysis
On paper, Austin, TX pays $15,000 more (median: $139,000 vs $154,000). However, after adjusting for cost of living (index 111 vs 124), Minneapolis, MN provides better purchasing power ($125,225 vs $124,194 equivalent). Austin, TX has no state income tax, which is a significant advantage.
Data: U.S. Bureau of Labor Statistics OEWS · 2026 · Cost-of-living indices from composite metro area data. Take-home estimates approximate only — consult a tax professional for accurate figures.