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A retinue of depressing bullet points about investment banking compensation from McLagan, the secretive banking pay specialists
When McLagan speak about investment banking pay, it’s worth taking note. Compensation benchmarking specialists, they work with leading investment banks to help determine whether they’re paying people appropriately. McLagan’s findings are, usually, strictly confidential. Now, however, McLagan has participated in a study with the Association for Financial Markets in Europe. And the results are public. [...]
Last week, the CEBR predicted bonuses will fall 48%. This week, a renowned pay consultant says they’ll rise
Alan Johnson, the Wall Street pay consultant who works with numerous Wall Street banks, and Credit Suisse has produced his first set of bonus predictions for 2012. Given his exposure to actual banks, you’d think Johnson knows what he’s talking about. This is good, because he thinks bonuses will increase in 2012. Johnson thinks FICC professionals [...]
By 2014 London salaries at Goldman Sachs may be £2m, salaries at Citi may be £1.5m, salaries at Barclays £650k and salaries at Deutsche £550k
Starting at 4.30pm today, the EU Parliament’s Monetary Affairs Committee will debate and then vote upon the proposal that banking bonuses should be restricted to no more than 100% of banking salaries. By all accounts, they’re likely to vote in favour of the move. Members of the Monetary Affairs Committe include various prominent socialists: You [...]
Handelsbanken is spending more on its investment banking staff, but bonuses are still being cut back
For a bank that prides itself on conservatism, Handelsbanken is displaying some adventurous characteristics. Firstly, there’s its UK expansion – it intends to add a new branch there every eight days after strong revenue growth. Then there’s its capital markets business, where cost income ratios are starting to look worryingly high. Revenues within Handelsbanken’s capital markets [...]
First quarter pay hierarchy suggests American banks still pay more. Generally, they also pay a LOT more cash
Now that we know how much JPMorgan, Goldman Sachs, UBS, Credit Suisse and Deutsche have accrued for their investment bankers in the first quarter, we can say two things. 1. American banks pay more (with the exception of Deutsche, whose pay per head figures for the corporate and investment bank aren’t comparable because, unlike elsewhere, [...]
Eight ways in which the Europe Union would like to curtail investment banking pay more heavily, soon
Despite the fact that the European Union already has the most punitive investment banking pay restrictions in the world, machinations are afoot in the European Parliament to make the restrictions even more punitive still. Yesterday, the European Banking Authority (EBA) released a large document based on a survey of the remuneration policies of banks in [...]
SEB employs more women than men, bonuses are shrinking and other reflections on its annual report
Like many European banks, SEB is being more open with the political hot potato of compensation, and it’s revealed that bonuses are starting to tumble. SEB’s annual general meeting was yesterday, along with the publication of its annual report. It’s keen to point out that bonuses are becoming less of a feature of its [...]
While BarCap is capping cash bonuses at £65k, persons at Credit Suisse can earn £346k in cash this year
Where would you rather work? Somewhere at which your cash bonus will be restricted to £65k, fin d’histoire, or somewhere where you can earn £346k in clean cash? BarCap has the initial, unappealing, compensation structure. Credit Suisse has the second. BarCap’s nastiness may be somewhat mitigated by the fact that half its deferred bonuses appear [...]
This very detailed compensation survey for corporate finance, equity research and sales, suggests the only place people got paid more for 2011 was…Moscow
Do you work in equity research, equity sales or corporate finance? Within corporate finance, do you work in mining and metals, oil/gas/energy/utilities, alternatives/renewables/biotech, or FIG, telecoms/media/technology, infrastructure/property/transport? Are you in a similar sector team in research? Do you want to know precisely how much you should have earned last year? Search firm BBM has some [...]
Should Handelsbanken think about paring back headcount in capital markets?
Handelsbanken is in the rare position of being the only large Nordic bank increase its headcount throughout 2011. However, costs remain stubbornly high in its investment bank and, if headwinds continue, cuts could be on the cards. The Swedish bank ended 2011 with 11,184 employees, which is an increase of over 330 on the previous [...]
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