Europe is not the promised land for investment bankers. Asia is not the promised the land for investment bankers. The U.S. is. If you are an investment banker working in New York City, you will - on average - earn 35% more than your average counterparts in Singapore, Hong Kong and London.
This is the latest revelation from Tricumen, the banking analysis company whose pay figures for commercial bankers we cited earlier this week.
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Tricumen analyzed pay for front office full time bankers across major banks in the first six months of 2013, and then annualized it. The figures below are presented with the following caveats: EMEA pay is heavily weighted towards London, Americas pay excludes people working in Latin America, APAC pay is weighted towards regional hubs like Singapore, Hong Kong and Tokyo.
Average pay for front office investment bankers by region:
- EMEA: $260k;
- Americas: $337k;
- APAC: $250k.
Why do bankers on Wall Street earn so much? We suggest it has something to do with higher fees, better margins and fewer compensation rules. Your opinions would be much appreciated. Please impart them in the comments box below...