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Beverly Chandler

Survey reports investment bankers remain highest earners

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Salary benchmarking site, Emolument.com, has conducted research among some 5,400 finance professionals working in the UK and found that investment bankers remain the highest earners, but the salary gap is narrowing. 

Alice Leguay, COO and co-founder at Emolument says: "The golden age of bonuses may be well and truly over, with a narrowing pay gap between bankers and other jobs such as asset managers or consultants, bankers are still by far the best paid employees in Europe. With public perception at an all-time low, the prospect of a fat paycheck probably helps make up for the social stigma of being a banker in our post-2008 world."
 
The survey found that analyst salaries are fairly uniform across all specialisms, but by the time these analysts reach MD level, their salaries differ dramatically, with MDs in areas like Structuring, Trading, and M&A earning as much as double what their counterparts in Fund Management and Institutional Sales are bringing in.
 
Investment banker salaries top GBP600,000 for MDs in Structuring and Trading. The firm reports that this works out as more than ten times what an analyst in the same specialism can expect to earn. “This is partly thanks to the vast increase in bonus as a percentage of salary over bankers' careers. Analysts can expect between 10 per cent and 20 per cent of their salary as a bonus, while MDs receive up to 150 per cent of their salary over again as a bonus.”
 
Emolument.com says that these results may not surprise seasoned finance professionals. “However, to uninitiated graduates looking to begin a banking career, one GBP60,000 analyst salary may look much like another, and the extent to which these salaries later diverge could come as a shock.”
 

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