- Basic salaries increased broadly in line with years’ experience, whilst bonuses were much more varied and linked to the Institution or how close the role was to the Front office. Benefits as a % of base also increased with years’ experience.
- FI/NBFI counterparty coverage roles paid higher basic salaries, but lower bonuses than corporate counterparty roles at the same level. When taking into account base salary and bonus levels FI/NBFI professionals were better paid in 2006 than corporate professionals.
- Professionals analysing FI/NBFIs counterparties and structured credit deals were paid similar base salaries for the same levels of experience.
- Structured credit (leveraged finance, structured finance and securitisation) professionals were the highest paid in 2006, when both base salary and bonuses were taken into account.
- Emerging Markets professionals achieved similar base salaries and bonuses to FI/NBFIs professionals.
- Investment Banks consistently pay around 10% higher basics than Corporate Banks, and this was even more pronounced when bonus levels were taken into account.
- Non-bank firms such as Insurers, Rating agencies etc paid in line with Investment Banks on basic salaries, but bonuses remained lower and more in line with Corporate Banks.
"The results of the Salary Survey reflect our market insight, and are a good indication of the average ranges for both base salary and bonuses at the different levels of experience."
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“On balance this is reflective of our views of the market because included within the FI/NBFI world are specialist areas that are better paid, such as hedge funds and insurance, and areas that sometimes require specific language skills or knowledge of traded products. On the corporate side, generally those analysts covering larger, more structured transactions were better paid than general corporate analysts.”
“This confirms our view of the market. There was a big demand for candidates in these areas and a general shortage of people with these skills.”
“On average emerging market professionals were paid lower than we expected. We believe this is partly because emerging markets is a relatively new area and many analysts are from those regions and therefore command lower salaries. However, those few EM analysts with strong experience and complex product skills are in high demand and can command basics of six-figures and above.”