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Equity research analyst salary
Average equity research analyst salary
$119,540
Equity Research Analyst Salary Insights
As of October 2025, the average salary for an Equity Research Analyst is $119,540 annually. This salary can fluctuate based on various factors, including geographic location, years of experience, and the specific employer. For example, analysts in major financial hubs such as New York City and San Francisco typically earn higher salaries due to the cost of living and demand for expertise.
Salary by State
Analyzing the average salary by state reveals that the highest-paying locations for equity research analysts include:
- New York: $130,000
- California: $125,000
- Massachusetts: $120,000
These states not only offer competitive salaries but also provide diverse job opportunities within leading financial institutions. Additionally, the compensation may vary significantly among different companies and sectors, emphasizing the importance of thorough research when applying for positions. By understanding these salary dynamics, candidates can make more informed decisions regarding their career paths.
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Where can an Equity Research Analyst earn more?
Equity research analyst salary estimates from across the web
Average equity research analyst salary by state
The highest-paying states for equity research analysts are New Jersey, California, and Nevada. The lowest average equity research analyst salary states are Alaska, South Dakota, and Oklahoma.
- State view
- County view
Highest paying states for equity research analysts
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New Jersey | $124,782 | $59.99 |
| 2 | California | $122,461 | $58.88 |
| 3 | New York | $117,346 | $56.42 |
| 4 | Pennsylvania | $106,227 | $51.07 |
| 5 | Michigan | $111,500 | $53.61 |
| 6 | Virginia | $109,832 | $52.80 |
| 7 | Connecticut | $116,959 | $56.23 |
| 8 | Nevada | $118,724 | $57.08 |
| 9 | Arizona | $104,911 | $50.44 |
| 10 | Vermont | $101,159 | $48.63 |
| 11 | North Carolina | $105,494 | $50.72 |
| 12 | Massachusetts | $117,930 | $56.70 |
| 13 | New Hampshire | $102,438 | $49.25 |
| 14 | New Mexico | $103,306 | $49.67 |
| 15 | Rhode Island | $98,028 | $47.13 |
| 16 | West Virginia | $101,065 | $48.59 |
| 17 | District of Columbia | $103,352 | $49.69 |
| 18 | Illinois | $96,577 | $46.43 |
| 19 | Washington | $111,883 | $53.79 |
| 20 | Ohio | $94,459 | $45.41 |
| 21 | Oregon | $93,041 | $44.73 |
| 22 | Minnesota | $94,388 | $45.38 |
| 23 | Delaware | $94,900 | $45.63 |
| 24 | Missouri | $94,078 | $45.23 |
| 25 | Wisconsin | $95,108 | $45.73 |
| 26 | Maine | $93,999 | $45.19 |
| 27 | Georgia | $93,207 | $44.81 |
| 28 | Texas | $88,327 | $42.46 |
| 29 | Maryland | $98,947 | $47.57 |
| 30 | Colorado | $84,655 | $40.70 |
| 31 | South Carolina | $91,725 | $44.10 |
| 32 | Utah | $82,987 | $39.90 |
| 33 | Indiana | $86,052 | $41.37 |
| 34 | Wyoming | $83,352 | $40.07 |
| 35 | Tennessee | $82,977 | $39.89 |
| 36 | Idaho | $84,666 | $40.70 |
| 37 | Kentucky | $85,880 | $41.29 |
| 38 | North Dakota | $83,519 | $40.15 |
| 39 | Iowa | $85,420 | $41.07 |
| 40 | Alabama | $85,356 | $41.04 |
| 41 | Nebraska | $80,764 | $38.83 |
| 42 | Florida | $84,035 | $40.40 |
| 43 | Louisiana | $87,471 | $42.05 |
| 44 | South Dakota | $79,873 | $38.40 |
| 45 | Hawaii | $74,844 | $35.98 |
| 46 | Montana | $81,136 | $39.01 |
| 47 | Mississippi | $81,915 | $39.38 |
| 48 | Oklahoma | $76,347 | $36.71 |
| 49 | Arkansas | $75,917 | $36.50 |
| 50 | Kansas | $74,707 | $35.92 |
| 51 | Alaska | $80,295 | $38.60 |
Highest paying cities for equity research analysts
The highest-paying cities for equity research analysts are San Francisco, CA, Boston, MA, and New York, NY.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | San Francisco, CA | $128,455 | $61.76 |
| 2 | Boston, MA | $118,057 | $56.76 |
| 3 | New York, NY | $117,562 | $56.52 |
| 4 | Westport, CT | $117,104 | $56.30 |
| 5 | Seattle, WA | $113,127 | $54.39 |
| 6 | Ann Arbor, MI | $111,419 | $53.57 |
| 7 | Durham, NC | $107,274 | $51.57 |
| 8 | Philadelphia, PA | $106,848 | $51.37 |
| 9 | Washington, DC | $103,434 | $49.73 |
| 10 | Santa Fe, NM | $101,725 | $48.91 |
| 11 | Baltimore, MD | $99,250 | $47.72 |
| 12 | Chicago, IL | $97,252 | $46.76 |
| 13 | Cleveland, OH | $96,677 | $46.48 |
| 14 | Milwaukee, WI | $95,333 | $45.83 |
| 15 | Saint Paul, MN | $94,537 | $45.45 |
| 16 | Atlanta, GA | $92,720 | $44.58 |
| 17 | Columbia, SC | $92,369 | $44.41 |
| 18 | Portland, OR | $92,137 | $44.30 |
| 19 | Austin, TX | $88,969 | $42.77 |
| 20 | Indianapolis, IN | $85,673 | $41.19 |
Equity research analyst salary details
An equity research analyst's salary ranges from $78,000 a year at the 10th percentile to $182,000 at the 90th percentile.
What is an equity research analyst's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $182,000 | $15,167 | $88 |
| 75th Percentile | $149,000 | $12,417 | $72 |
| Average | $119,540 | $9,962 | $57 |
| 25th Percentile | $95,000 | $7,917 | $46 |
| 10th Percentile | $78,000 | $6,500 | $38 |
Highest paying equity research analyst jobs
The highest paying types of equity research analysts are investment associate, equity analyst, and risk analyst.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Finance Professional | $55,551 | $4,629 | $26.71 | 124,570 |
| Analyst Internship | $38,569 | $3,214 | $18.54 | 103,723 |
| Finance Management Analyst | $71,934 | $5,995 | $34.58 | 184,284 |
| Corporate Finance Analyst | $76,023 | $6,335 | $36.55 | 114,375 |
| Analyst | $73,007 | $6,084 | $35.10 | 253,138 |
| Finance Analyst | $69,887 | $5,824 | $33.60 | 138,600 |
How would you rate the starting salaries for equity research analysts, as well as the prospects for salary advancement?
Dr. William Wood Ph.D.
Academic Unit Head, Economics; Director, Center for Economic Education, James Madison University
Top companies hiring equity research analysts now:
Which companies pay equity research analysts the most?
Equity research analyst salaries at Simmons Energy and Pacific Investment Management Company LLC are the highest-paying according to our most recent salary estimates. In addition, the average equity research analyst salary at companies like Bloomberg and Lord Abbett are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Simmons Energy | $151,608 | $72.89 |
| 2 | Pacific Investment Management Company LLC | $148,998 | $71.63 |
| 3 | Bloomberg | $147,183 | $70.76 |
| 4 | Lord Abbett | $146,493 | $70.43 |
| 5 | MPG | $141,752 | $68.15 |
| 6 | Cohen & Steers | $140,511 | $67.55 |
| 7 | First Republic Bank | $139,060 | $66.86 |
| 8 | Meketa Investment Group | $138,605 | $66.64 |
| 9 | GMO | $138,350 | $66.51 |
| 10 | Two Sigma | $138,076 | $66.38 |
| 11 | TCW Group | $135,697 | $65.24 |
| 12 | Highland Capital Management | $135,528 | $65.16 |
| 13 | Citi | $133,802 | $64.33 |
| 14 | Avondale Partners | $133,728 | $64.29 |
| 15 | Wellington Management | $133,408 | $64.14 |
| 16 | B. Riley Financial | $132,987 | $63.94 |
| 17 | Zacks Investment Management | $132,878 | $63.88 |
| 18 | Wellington Group | $131,100 | $63.03 |
| 19 | First Quadrant | $130,312 | $62.65 |
| 20 | Indus Capital Partners | $130,124 | $62.56 |
Wage gap by gender, race and education
Equity research analyst salary trends
The average equity research analyst salary has risen by $18,359 over the last ten years. In 2014, the average equity research analyst earned $101,181 annually, but today, they earn $119,540 a year. That works out to a 9% change in pay for equity research analysts over the last decade.
Compare equity research analyst salaries for cities or states with the national average over time.
Average equity research analyst salary over time
Compare equity research analyst salaries for individual cities or states with the national average.
Equity research analyst salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $120,000 | $57.47 | +2.6% |
| 2024 | $116,000 | $56.00 | +1.6% |
| 2023 | $115,000 | $55.08 | +1.6% |
| 2022 | $113,000 | $54.21 | +3.0% |
| 2021 | $109,000 | $52.57 | +1.8% |
Recently added equity research analyst salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Franklin Templeton | Equity Research Analyst-(Industrials Sector) | San Mateo, CA | 06/30/2025 | $140,000 |
| Brown Advisory | Equity Research Analyst | Baltimore, MD | 06/30/2025 | $170,000 |
| Hedgeye Risk Management | Equity Research-Financials | Stamford, CT | 06/20/2025 | $125,000 |
| Blackrock, Inc. | Fundamental Equities-Research Analyst (Income & Value Investment Team), Associate | New York, NY | 06/11/2025 | $116,000 |
| Soros Fund Management | Research Analyst-Crossover Equity Investing | New York, NY | 06/11/2025 | $125,000 |
| Alger & Associates | Equity Research Analyst-Small/Mid CAP, Technology and Industrial Sector | New York, NY | 06/10/2025 | $150,000 |
| William Blair | Research Analyst-Large Cap Growth-U.S. Growth & Core Equity Team | Chicago, IL | 06/09/2025 | $200,000 |
| Verition Group LLC | Equity L/S Quant Research Analyst | New York, NY | 06/09/2025 | $150,000 |
| VOYA Financial Inc. | Equity Research Analyst-Biotechnology Healthcare | San Francisco, CA | 05/29/2025 | $125,000 |
| Franklin Templeton | Equity Research Analyst-(Industrials Sector) | San Mateo, CA | 05/27/2025 | $140,000 |
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