Financial Advisory Salary Survey, Iberia 2023
Read unique research on salaries and bonuses for M&A professionals in Iberia.
IBERIA, 2023 Financial advisor礠⠀ salary survey Powered by
Game change爠⠀ virtual data room Innovative technology for staying ahea搀 in 昀椀nancial advisory. idealsvdr.com
3 We are pleased to announce the completion of our 2023 survey, which aimed to investigate compensation packages for 昀椀nancial advisor猠⠀ in Spain in 2021 and 2022㠀 Methodology 4 We surveyed a diverse sample of 315 corporate 昀椀nance employee猠⠀ and 昀椀nancial advisors from di昀昀erent seniority levels across Spain until February 2023 using a comprehensive questionnaire distributed via M&A Salary 2021 vs. 2022 6 Teaser㠀 Bonus 2021 vs. 202㈀ The results, presented in the form of charts, tables, and wri琀琀en 16 descriptions, are the outcome of meticulous analysis of the collected data㠀 Additional insights 18 We believe that the survey provides valuable information that empower 昀椀nancial advisors to make be琀琀er decisions for themselves and their teams, making it an essential tool in today's rapidly evolving business world.
4 Breakdown of respondents by seniority levels 47% of respondents were analysts Analyst ㈀ Analyst ㌀ VP VP ㌀ 12% 15% 10% 5 % 67% VP ㈀ 5 % of respondents were between 2㘀 and 35 years old Analyst 20% Associate ㌀ Associate 9% 15% Associate ㈀ 9% Methodology
5 Years in the company by seniority group 33% of respondents had worke搠⠀ for their 昀椀rm for up to one year 14% 11% 19% 27% of respondents had been working for the same 昀椀rm for over 4 years 41% 26% 24% 46% 2% 24% 6% VP 29% 17% Associate 15% 8% Analyst 2% 1 year
6 Comparison of 昀椀xed salary bands in euros between 2021 and 2022 5% 3% 4% 3% 7% 12% 33% 39% 16% 2021 2022 18% 31% 29% < 40K 41 - 60K 61 - 80K 81 - 100K 101 - 120K 121 - 225K Salary 2021 vs. 2022
7 Comparison of minimum and maximum base salaries in euros between 2021 and 202㈀ Tier I Analyst 1 Analyst 2 Analyst 3 Associate 1 Associate 2 Associate 3 VP 1 VP 2 VP 3 45 - 85K 45 - 80K 50 - 87K 50 - 87K 55 - 145K 55 - 155K 135 - 155K 150 - 180K 120 - 225K 2021 45 - 85K 45 - 90K 55 - 100K 60 - 155K 60 - 160K 65 - 135K 145 - 165K 155 - 180K 120 - 225K 2022 Tier II 35 - 60K 35 - 75K 35 - 45K 40 - 70K 35 - 75K 35 - 75K 50 - 75K 85 - 120K 85 - 110K 2021 35 - 70K 40 - 75K 45 - 50K 50 - 80K 40 - 80K 55 - 90K 50 - 120K 90 - 125K 90 - 110K 2022 Tier III 20 - 45K 20 - 45K 20 - 50K 25 - 55K 25 - 55K 35 - 55K 40 - 65K 45 - 75K 50 - 85K 2021 20 - 45K 25 - 45K 25 - 55K 35 - 60K 30 - 60K 35 - 65K 45 - 75K 45 - 75K 55 - 85K 2022 Salary 2021 vs. 2022
8 Minimum, maximum, and average base salary across all seniority levels, in euros 2021 2022 113K 113K 110K 105K 100K 98K 95K 95K 180䬀 180䬀 88K 85K 85K 165䬀 165䬀 155䬀 155䬀 75K 160K 150䬀 150䬀 145䬀 135䬀 63K 58K 115䬀 54K 53K 53K 50K 100K 90K 87K 85K 85K 80K 55䬀 50䬀 45䬀 45䬀 45K 40K 35K 35K 35K 30K 25K 25K 25K 25K 20K 20K 20K 20K 1 1 1 1 1 1 2 2 2 2 2 2 3 3 3 3 3 3 t t e e P P t t t t e e e e P P P P s s t t s s s s t t t t V V y y a a V V V V l l y y y y i i a a a a l l l l i i i i a a c c a a a a c c c c n n o o n n n n o o o o s s A A s s s s A A A A s s s s s s A A A A A A minimum maximum average Salary 2021 vs. 2022
9 Salary ranges for analyst positions in euros Changes in salary between 2021 and 2022 2021 53% 26% 14% 7% Tier I Analyst 1 Analyst 2 Analyst 3 Analyst ㌀ 45 - 85K 45 - 80K 50 - 87K 2021 37% 41% 13% 9% 2022 45 - 85K 45 - 90K 55 - 100K 2022 Tier II 74% 3% 17% 6% Analyst ㈀ 35 - 60K 35 - 75K 35 - 45K 2021 72% 3% 17% 8% 35 - 70K 40 - 75K 45 - 50K 2022 Tier III 70% 14% 5% 11% Analyst 20 - 45K 20 - 45K 20 - 50K 2021 64% 20% 3% 13% 20 - 45K 25 - 45K 25 - 55K 2022 20 - 40K 41 - 60K 61 - 80K 81 - 100K Salary 2021 vs. 2022
10 Salary ranges for associate positions in euros Changes in salary between 2021 and 2022 2021 58% 34% 8% Tier I Associate 1 Associate 2 Associate 3 Associate ㌀ 50 - 87K 55 - 145K 55 - 155K 2021 39% 47% 7% 7% 2022 60 - 155K 60 - 160K 65 - 135K 2022 Tier II 55% 28% 14% 3% Associate ㈀ 40 - 70K 35 - 75K 35 - 75K 2021 48% 35% 10% 7% 50 - 80K 40 - 80K 55 - 90K 2022 Tier III 72% 16% 3% 9% Associate 25 - 55K 25 - 55K 35 - 55K 2021 59% 19% 9% 13% 35 - 60K 30 - 60K 35 - 65K 2022 25 - 55K 56 - 85K 86 - 115K 116 - 160K Salary 2021 vs. 2022
11 Salary ranges for VP positions in euros Changes in salary between 2021 and 2022 2021 38% 31% 19% 6% 6% Tier I VP 1 VP 2 VP 3 VP ㌀ 135 - 155K 150 - 180K 120 - 225K 2021 25% 44% 19% 12% 2022 145 - 165K 155 - 180K 120 - 225K 2022 Tier II 56% 31% 6% 7% VP ㈀ 50 - 75K 85 -1 20K 85 - 110K 2021 47% 35% 12% 6% 50 - 120K 90 - 125K 90 - 110K 2022 Tier III 68% 23% 3%6% VP 40 - 65K 45 - 75K 50 - 85K 2021 58% 26% 10% 6% 45 - 75K 45 - 75K 55 - 85K 2022 40 - 70K 71 - 100K 101 - 130K 131 - 160K 161 - 225K Salary 2021 vs. 2022
12 Salary raise percentage for analysts in 2022 Analyst 1 Analyst 2 Analyst 3 53% 29% 24% 22% 22% 21% 15% 15% 10% 10% 9% 9% 5% 5% 5% 5% 3% 3% 2% 2% same 0-5% 6-10% 11-20% 21-30% 31-40% 41-50% >50% Salary 2021 vs. 2022
13 Salary raise percentage for associates in 2022 Associate 1 Associate 2 Associate 3 35% 33% 28% 27% 24% 24% 24% 17% 15% 14% 11% 10% 10% 7% 7% 4% 4% 4% 2% same 0-5% 6-10% 11-20% 21-30% 31-40% 41-50% >50% Salary 2021 vs. 2022
14 Salary increase percentage for VPs in 2022 VP 1 VP 2 VP 3 50% 36% 32% 25% 25% 25% 19% 19% 13% 13% 10% 6% 6% 6% 6% 6% 3% same 0-5% 6-10% 11-20% 21-30% 31-40% 41-50% >50% Salary 2021 vs 2022 Salary 2021 vs. 2022
15 Salary increase 74% 50% of employees received a salary increase in 2022 salary increases above 50% were only give渀 to employees earning less than 80K, regardles猀 of seniority level 62% 2% was the highest percentage of salary increase of respondents saw a salary increase above 50% reported by respondents in 2022 in 2022 Salary 2021 vs. 2022
16 Bonus trends 2021 vs. 2022: bonus percentage on top of 昀椀xed salary and variance on previous year's bonus Tier I Analyst 1 Analyst 2 Analyst 3 Associate 1 Associate 2 Associate 3 VP 1 VP 2 VP 3 0 - 100% 20 - 100% 0 - 150% 5 - 100% 10 - 90% 10 - 90% 30 - 100% 40 - 50% 35 - 150% Bonus 2021* 0 - 100% -50 - 100% -25 - 100% -30 - 50% 0 - 100% 0 - 10% 0 - 30% 0 - 150% -10 - 50% Bonus variance** Tier II 0 - 85% 20 - 100% 20 - 100% 0 - 150% 20 - 75% 10 - 85% 5 - 65% 0 - 40% 40 - 100% Bonus 2021 -40 - 80% -25 -7 5% -30 - 20% -25 - 100% -50 - 70% -25 - 25% -50 - 25% -50 - 120% 0 - 100% Bonus variance Tier III 0 - 50% 15 - 100% 0 - 80% 0 - 40% 0 - 74% 0 - 85% 5 - 50% 15 - 150% 10 - 50% Bonus 2021 0 - 20% -10 - 60% -15 - 50% 0 - 65% 0 - 100% 0 - 200% 0 - 50% 0 - 100% 0 - 60% Bonus variance * on top of 昀椀xed salary ** bonus variance for 2022 compared to 2021 Bonus 2021 vs. 2022
17 Bonus trend猀 76% 29% of respondents received a bonus increas攠⠀ of the respondents whose bonus decrease搀 in 2022, while only 24% reported no chang攠⠀ in 2022 were VPs or a decrease in bonus 36% 28% of the respondents whose bonus decrease搀 of respondents who experienced a bonu猀 in 2022 were associates increase in 2022 also received a salar礀 increase in the same year Bonus 2021 vs. 2022
18 Remote work 100% 27% of employees working fully remote receive搠⠀ of respondents who work on-site or in the o昀케ce a salary increase in 2022, and they are all VPs four days a week did not receive a salary rais攠⠀ in 2022 54% 2% of analysts do not have the option to wor欠⠀ of VPs work fully remote from home Additional insights
19 Salary stagnatio砀 54% 26% of respondents who did not receive a salary of all employees did not receive a salary increase increase in 2022 have worked in the compan礀 in 2022 for up to one year 46% 10% 46% of Analysts, 1 reported no change in salar礀 of the respondents who did not receive a salary in 2022. This is the highest percentage among all increase reported working in the same company positions surveyed for more than four years Additional insights
iDeals is not the first VDR we use. However, it is the first we are fully satisfied with. We have been using it for more than a year and recommending it to all our companies and partners. Robert H⸀ Corporate 昀椀nance & restructurin朠⠀ advisor, EY Winner for 16 consecutive quarter猠⠀ G2 Market leader 2023