Investment Banker · Salary Comparison · 2026
Investment Banker Salary: Minneapolis, MN vs New York, NY
Side-by-side comparison of salary, taxes, cost of living, and take-home pay for Investment Bankers in Minneapolis, MN and New York, NY, based on BLS OEWS 2026 data.
1Which City Pays More After Tax?
Higher Gross Salary
✓ New York, NY
$139,000 vs $185,000
Better Purchasing Power
✓ Minneapolis, MN
$125,225 vs $98,930
Best Take-Home (COL-Adj)
✓ Minneapolis, MN
$107,840 vs $85,150
2
Detailed Comparison
| Metric | Minneapolis, MN | New York, NY | Diff |
|---|---|---|---|
| Median Annual Salary | $139,000 | $185,000▲ | -$46,000 |
| 25th Percentile | $107,030 | $142,450▲ | -$35,420 |
| 75th Percentile | $177,920 | $236,800▲ | -$58,880 |
| 90th Percentile | $222,400 | $296,000▲ | -$73,600 |
| Cost of Living Index | 111 | 187 | -76 |
| State Income Tax | 6.8%▲ | 6.85% | -0.04999999999999982% |
| COL-Adjusted Median | $125,225▲ | $98,930 | +$26,295 |
| Est. Annual Take-Home | $119,702 | $159,231▲ | -$39,529 |
| COL-Adj. Take-Home | $107,840▲ | $85,150 | +$22,690 |
| Total Employment | 17,600 | 54,400 | -36,800 |
▲ = Higher value wins for this metric. Diff = Minneapolis, MN minus New York, NY.
3Summary Analysis
On paper, New York, NY pays $46,000 more (median: $139,000 vs $185,000). However, after adjusting for cost of living (index 111 vs 187), Minneapolis, MN provides better purchasing power ($125,225 vs $98,930 equivalent). Minneapolis, MN has the lower state tax rate (6.8% vs 6.85%).
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.