eFinancialCareers

As one of Wall Street's primary casualties of the sub-prime meltdown, Merrill Lynch is being spotlighted as an early read on the breadth and depth of damage to year-end bonuses. While recent media reports of a 40 percent average year-over-year bonus reduction for fixed-income are no surprise, one news outlet says that Merrill's investment bankers, equity traders and even private bankers will be paid less than last year on average. The... Read more

On first blush, a new study confirms what many on Wall Street have long thought: Goldman Sachs pays a lot more than other investment banks. But once you get into the numbers, you find that may only happen at the top. Earlier this week, Bloomberg suggested the average employee at Goldman will receive a bonus of $397,707 this year, $187,000 more than their counterparts at Lehman Brothers and more than twice... Read more

Why is Goldman Sachs so generous in its compensation? Some might say the answer is easy: It's arguably the most successful investment firm on the street. But let's dig a bit deeper First, Goldman Sachs makes more money than any other investment bank. In 2006, net revenue per employee was $1.4 million, compared to $678,000 at Lehman Brothers. As a proportion of revenue, compensation costs were 43.7 percent, lower than at... Read more

A rumor that Goldman Sachs stiffed back-office staff on bonuses suggests Wall Street's troubles - and near-term career prospects - are even worse than they appear. The rumor might be bogus. The New York Post, which first reported it, backed away after a London-based Goldman spokesman called the paper's story "nonsense" and said the bank "took great care to reward our people appropriately'' for "a very strong year." The Post Sunday... Read more

Are you a compliance specialist who wants to boost your pay packet in one easy move? Now may be the time to jump to a hedge fund. Kevin Dunleavy, head of global hedge fund strategy and client relations for Merrill Lynch, was recently reported in Financial News as saying the cost of a hedge-fund compliance officer has gone up 30 to 40 percent over the past two years alone. He’s not... Read more

Larger investment banks and financial institutions need risk professionals in a variety of capacities. That demand has made sizeable bonuses the order of the day. The most dramatic demand is for risk managers who can bring "integrated skills sets to the table, from qualitative and quantitative financial skills," says Richard Meyers, chief executive of Richard Meyers and Associates, an executive search firm in Warren, N.J., that caters to the insurance and... Read more

A survey of over 15,500 asset managers shows U.S. and U.K. money managers are paid the most, with Australians, South Africans and Swiss in the next league down. The annual salary survey by the CFA Institute, the organization administering the CFA exam, reveals considerable discrepancies in money manager pay across countries. U.K. asset managers earn the most, with median total compensation of $217,048. U.S. money managers earn a median of $170,000. Swiss... Read more

A former head Goldman Sachs says he's "appalled" by Wall Street's pay levels and warned they've reached "bubble" levels - and bubbles pop. In an interview with Bloomberg, John Whitehead, who was co-head of Goldman Sachs from 1976 to 1985, said his former firm is leading the compensation run up, calling the firm "leaders in this outrageous increase." Last year the biggest Wall Street firms paid $36 billion in bonuses, spurred... Read more

Un panel de chasseurs de têtes évalue la rémunération de ce type de poste à Wall Street ? Salaire de base entre $150,000 et $200,000 pour un débutant; les meilleurs en fusions acquisitions peuvent gagner jusqu’à $3millions avec bonus, les managing directors, les plus seniors, approchent les $ 8millions de dollars par an. Qui voudrait devenir banquier d’affaires aujourd’hui? Les banquiers d’affaires spécialisés en Fusions et acquisitions se battent depuis trois... Read more

Bankers at Morgan Stanley should already be able to taste their bonuses. The investment bank typically announces staff bonuses in mid-December and pays them out in early January. At this stage in the cycle, therefore, it seems odd that anyone would walk away without some compensation for the disappearing bonus as a result. But the Financial Times says this is precisely what Michael Tory, head of UK investment banking at Morgan... Read more

Many female finance workers remain convinced that sexism is a given if you work in investment banking. Like the latest lawsuit, where Dresdner Kleinwort Wasserstein (DrKW) has been hit with a $1.4bn action filed in New York, working on Wall Street just does not seem to be getting any kinder or gentler. Is it all just men behaving badly? The six litigants, based in London and New York, claim that they... Read more

Bear Stearns has approved a bonus pool of up to $305 million for 13 members of staff, or more than $20 million each, if the U.S. bank exceeds performance targets. The five-member executive committee could share a maximum bonus of $165 million, and another eight participants could be paid up to $140 million for the 2006 financial year, according to a U.S. Securities and Exchange Commission filing. The size of the... Read more

At the height of the dot com boom in 2000, star analysts such as Mary Meeker, head of internet research at Morgan Stanley, reportedly received bonuses nearing $20 million. Plenty of others received generous six figure packages. Although recruiters say top rated analysts are still in line for multi-million dollar payouts, few deny that research isn’t quite as lucrative as it used to be. In its pre-Christmas bonus report, search firm Armstrong... Read more

Trader Monthly's list of the highest earning Wall Street traders is led by Goldman Sachs Managing Director Mark McGoldrick, 48. Co-head of global proprietary investments at Goldman, he earned an estimated $40 million to $50 million last year, the magazine said. The other top traders: Earning $30 million - $40 million Raanan Agus - Goldman Sachs Ken Karl - UBS Boaz Weinstein - Deutsche Bank Earning $20 million - $25 million Simon Greenshields - Morgan... Read more

As 2007 begins, risk management professionals in the New York City area are benefiting from high demand. Their compensation packages are also enjoying a boost. Same old, same old. According to projections included in Manpower's Employment Outlook Survey, the financial industry's first quarter hiring outlook is slowing in much of the country, but not in key sectors in the Northeastern U.S. In that area, financial employers are expected to add staff,... Read more