Investment Banker Salary: New York, NY vs San Francisco, CA
BLS reports this occupation as "Securities, Commodities, and Financial Services Sales Agents" (41-3031); every figure on this page is for that BLS occupation.
Side-by-side comparison of wages and local price levels for Investment Bankers in New York, NY and San Francisco, CA, based on BLS OEWS May 2025 wage data and BEA regional price parities for 2024.
1Which City Pays More?
Detailed Comparison
| Metric | New York, NY | San Francisco, CA | Diff |
|---|---|---|---|
| Median Annual Salary | $167,890▲ | $102,290 | +$65,600 |
| 25th Percentile | $100,830▲ | $73,920 | +$26,910 |
| 75th Percentile | $227,700▲ | $161,150 | +$66,550 |
| 90th Percentile | $326,290▲ | $265,690 | +$60,600 |
| Price Level (BEA 2024, US = 100) | 112.6 | 115.6 | -3.0 |
| Median at National-Average Prices | $149,152▲ | $88,476 | +$60,676 |
| Total Employment | 59,450 | 10,420 | +49,030 |
3Summary Analysis
On paper, New York, NY pays $65,600 more (median: $167,890 vs $102,290). BEA's regional price parity is 112.6 in New York, NY and 115.6 in San Francisco, CA (United States = 100). At national-average prices the medians are $149,152 and $88,476, so New York, NY comes out ahead once local prices are counted.
5Reading This Comparison
The $65,600 gap between the two medians is a gap in dollars, not in what those dollars buy. Dividing each median by its area's regional price parity restates it at national-average prices: $149,152 for New York and $88,476 for San Francisco, a difference of $60,676.
The price levels come from the U.S. Bureau of Economic Analysis, which describes them this way: “Regional price parities (RPPs) measure the differences in price levels across states and metropolitan areas for a given year and are expressed as a percentage of the overall national price level.” The figures used here are the all-items index for each whole metropolitan area (New York-Newark-Jersey City, NY-NJ; San Francisco-Oakland-Fremont, CA) and cover prices only, not taxes.
BLS estimates 59,450 Investment Banker jobs in the New York area and 10,420 in the San Francisco area. For broader context, see our New York overview and the full Investment Banker city ranking.
Frequently Asked Questions
Is Investment Banker salary higher in New York, NY or San Francisco, CA?
New York, NY has the higher median wage for Investment Bankers ($167,890 per year, against $102,290 in San Francisco, CA; BLS OEWS May 2025). Restated at national-average prices using BEA regional price parities, the medians are $149,152 in New York, NY and $88,476 in San Francisco, CA.
How do prices compare between New York, NY and San Francisco, CA?
The U.S. Bureau of Economic Analysis puts the 2024 regional price parity at 112.6 for the New York-Newark-Jersey City, NY-NJ metropolitan area and 115.6 for the San Francisco-Oakland-Fremont, CA metropolitan area, where the United States is 100. That is 12.6% above the national level for New York, NY and 15.6% above the national level for San Francisco, CA.
Which city pays Investment Bankers more once local prices are counted?
New York, NY: at national-average prices its median Investment Banker wage is $149,152, against $88,476 for San Francisco, CA. The adjustment divides each median by the area's BEA regional price parity and covers prices only, not taxes.