The average UK financial services bonus last year was £13.4k. Sounds good? Not if you're a 25 year-old working in M&A or capital markets for a major bank in London. In this case, you'll already be expecting a bonus of £30k+ ($40k+).
So says the new salary and bonus survey from London recruitment firm Dartmouth Partners. If Dartmouth's right, then during the first ten years of a career in an investment banking division in London, your total compensation (salary AND bonus) will increase on a trajectory a little bit like this:
In other words, in IBD at a major bank, you can probably expect to earn a total of £66k in your first year and £317k 10 years later. - Maybe before, if banks (like Goldman) subject you to the new accelerated promotions.
We've broken out what 2016 analyst and associate pay in IBD looks like on a bank-by-bank basis below. Notable features are as follows:
Source: Dartmouth Partners
Source: Dartmouth Partners
Source: Dartmouth Partners
Source: Dartmouth Partners
Source: Dartmouth Partners
Source: Dartmouth Partners
Source: Dartmouth Partners
Source: Dartmouth Partners
Contact:SButcher@eFinancialCareers.com
Photo credit: joel by Kevin N. Murphy is licensed under CC BY 2.0.