Business & Finance Detroit, MI Pop. 639,111

Investment Banker Salary in Detroit, Michigan

The median investment banker salary in Detroit, MI is $114,400 per year, which is 12% below the national median and 2.2% below the Michigan state average.

City Median
$114,400
vs State Avg
$-2,600
vs National
$-15,600
Cost of Living
88%

Investment Banker Salary in Detroit by Experience

In Detroit, an entry-level investment banker earns around $70,400, while experienced professionals earn up to $264,000 per year. The local cost of living index is 88% of the national average.

Entry Level (0-2 yrs)
$70,400
$-9,600 vs national
Mid Level (3-7 yrs)
$118,800
$-16,200 vs national
Senior Level (8+ yrs)
$264,000
$-36,000 vs national

Salary Percentiles in Detroit, MI

Percentile Detroit
10th Percentile $66,000
25th Percentile $83,600
Median (50th) $114,400
75th Percentile $184,800
90th Percentile $281,600

Investment Banker Salary in Other Michigan Cities

Ann Arbor, MI
$136,500
Pop. 123,851
Grand Rapids, MI
$117,000
Pop. 198,917
Warren, MI
$114,400
Pop. 139,387
Lansing, MI
$111,800
Pop. 112,644

How to Become a Investment Banker in Detroit

Education

Most investment banker positions require a bachelor's degree. Detroit and the surrounding Michigan area have institutions offering relevant programs.

Key Skills

Financial ModelingValuationM&AExcelPowerPointDue Diligence

Job Outlook

Nationally, investment banker employment is projected to grow 7% over the next decade (faster than average). Demand in Detroit may vary based on local industry and population growth.