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Big-ticket mergers are generating even bigger payouts for Wall Street advisers, The Wall Street Journal writes.
Investment banks are increasingly collecting $100 million-plus fees for advising companies on major acquisitions, driven by larger deal sizes, rising advisory rates and strong demand for firms with deep sector expertise. Six U.S. public-company deals in 2025 hit that threshold for a single bank, compared with just one the year before.
The trend has continued into 2026 as blockbuster dealmaking accelerates and antitrust concerns ease. Beyond sheer size, banks are commanding premium fees for navigating regulatory complexity, identifying buyers and helping companies maximize deal value.
Researchers say advisory fees have been climbing for decades, but the latest surge reflects how strategic and lucrative M&A counsel has become.
For corporate boards and executives, the shift underscores the growing price—and perceived value—of top-tier advice as competition intensifies for transformational deals.
