UK
A new salary survey from recruiters PSD Group shows that risk managers did get bonuses last year, but they were considerably lower than in 2008. This was particularly so for quantitative risk analysts, whose bonuses were halved (at least).
Risk salaries and bonuses, 2008 vs. 2009
Source: PSD Group
Click here to see the PSD Group’s full risk survey release.
Are these for Teir 1 banks or Tier 2
@Credit – they didn’t specify, so I guess these are averaged across all banks.
they all look a little generous to me..or maybe i am in just the wrong bank
Director,Market Risk..bonus 50-75 % !!!! more than i have heard in the market…pub soundings are more 25-50% at a push,,in fact all these figures look a little inflated
You can’t have any self-respect if you’d honestly work for these kind of numbers. Given you need to be pretty good mathematically to get into Market Risk – a Maths degree from a good uni, often a PhD, its really sad if you’re earning less than 150k as a VP – and that was in the peak bonus season.
Galent..oh god..not anyother Henry like idiot..The figures from PSD do appear to be a little on the rich side for the Risk roles (certainly in the U.K)as sparsely described above…but i suppose that is natural when a recruiter is taking numbers from a finance person..both blowing a little smoke up each others ar$%s. Risk remuneration has always been the poorer cousin of the Finance Family
Galant I think you must be really sad if you judge people just by what they earn. But with regards to the figures they actually sound too much in terms of bonus, I know a few close friends in Risk (including an ex so ive seen her pay slips and bonus payslips) and it is no way near that amount in bonus. Even the base salaries are way off…there are hardly any people on more than 100k base salaries…now maybe due to base salary increase but not before…i wonder which pub and how many drinks later these guys put the table together…
What? I showed the above figures to a couple of risk managers I know (in Credit and Market) and they were laughing at how horrificly off these numbers were – way, way too low by a multiple of 2+. Which doesn’t surprise me, I know Risk where I am is pretty well paid, I’ve seen payslips and good VPs get 6 figures. The problem with these surveys is they seem to do the average of 2nd, 3rd tier banks where people like SirTed and J must work, completely diluting the actual number for better quality people.
I think more interesting than the averages here would be the variance – and there seems to be plenty of it, judging by the comments.
I would like the correlation between risk compensation (either in absolute terms or taken as a %ge of front office), and the returns on the investment banking unit as a whole.
Sarah, your guidance please!
@djm. I’m afraid that we don’t have that level of granularity – we’d need figures for risk pay on a bank by bank basis and we only have figures for risk pay averaged across the industry. Sorry to disappoint you.
” I’ve seen payslips ”
how dodgey is that?
This is unbelievable. I come here once a month to check how the job market is moving in my field and no matter which article I read, “Henry” is always there, making an absurd comment as if he has a PhD in astrophysics from Harvard and earns a billion a year or something.
Which makes me think that there are 5 possibilities:
1)Henry is unemployed and is always on-line trying to find a job
2)Henry is employed BUT is trying desperately to find a new job
3)Henry is a head-hunter without any vacancies to fill
4)Henry is on this site all day trying to make others feel bad
In all of the above cases, it makes you wonder who on their right mind would do something like that every single day? Get a life mate or consult a psychologist.
Of course there is another possibility:
5)Every self-obsessed and pathetic individual in this world is signing as Henry (High Earner… and all that) trying to signal that he had done something with his life.
Which implies that there might be a lot of people in need of help out there…
why the hell did you end up in credit risk? extreeme booring job… extreme dull , lots of stress and no respect for poor pay