Salary survey: Asset managers should start career in UK, then move to Singapore

eFC logo

Asset managers in the UK earn significantly higher bonuses than their US counterparts, giving them slightly higher compensation overall, a survey shows.

Total annual pay for all UK fund managers is $200,000 on average compared to $190,000 for their US counterparts, the 2001 survey says. It was compiled by the Association for Investment Management and Research, and the search firm Russell Reynolds.

Median salary in the US was a shade higher - $115,000, against

$112,000. But UK bonuses, at $70,000, were 40% higher than US bonuses.

Median pay for all fund mangers in Hong Kong and Singapore was considerably lower than the UK and US figures. Pay in Canada, the other location surveyed, was lowest of all.

But for fund managers with 10 or more years experience, the place to be is Singapore. There, median pay is $295,000, against $257,000 in second-placed UK. Canada again lagged the other four significantly, at $153,000.

At all levels of experience, women earn less than men. The average gap is 16% of men's compensation.

The survey also found that of fund managers with more than 10 years experience, those who were Chartered Financial Analysts were paid 25% more than those who were not.

Pay was highest at mutual funds, followed by securities broker/dealers and investment counsellors. Fund managers working at banks and pension consulting firms were paid less on average.

The report was based on more than 10,000 responses to a questionnaire. Eight thousand were from the US, and the survey said the data from the UK, Hong Kong and Singapore should be treated with caution because of the relatively low number of replies.