Salary survey: Investment banking pay rises led by managers

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Salaries of corporate finance staff have increased moderately in the past year, despite the slowdown in M&A activity, according to a survey by Monks Partnership, the remuneration consultancy.

The biggest increase was for corporate finance managers, where the upper quartile figure was 64,000, compared with 58,000 a year ago. The survey covered medium and small financial institutions only, rather than large investment banks.

Lower quartile salaries of corporate finance managers rose from 46,000 to 52,000 in the survey for May 2001.

Other employees received more modest increases. Salaries of assistant directors barely moved, at 90,000 for the upper quartile compared with 89,000 the year before.

Corporate finance executives earned an upper quartile salary of 44,000, up from 41,000 the year before, while the lower quartile figure was 39,000, up from 36,000.

The salaries of securitised loans managers dipped slightly at the upper level to 88,000 from 90,000. At the lower level they edged upwards, however.