Investment banks are collecting record-breaking fees as corporate mergers and acquisitions surge to new heights. In 2025, six U.S. acquisitions have already generated sell-side fees of at least $100 million for individual banks, according to Deal Point Data. This marks a dramatic increase from just one such deal in 2024 and represents a historic shift in the M&A advisory landscape.

Historically, only 16 deals have ever produced such massive payouts for banks advising U.S. targets. The trend began in 2016 when Morgan Stanley earned $120 million advising Monsanto on its sale to Bayer, setting the first $100 million benchmark. Now, with the current M&A boom showing no signs of slowing, multiple banks are routinely collecting these megafees for single transactions.

The surge in high-value advisory fees reflects both the scale of current deals and the intense competition among banks to secure mandates on major transactions. As corporate consolidation accelerates across industries, investment banks are positioning themselves to capture unprecedented compensation for their role in facilitating these transformative deals.