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The Talent Drain on Wall Street
With all the job cuts on Wall Street, you wouldn’t figure banks would be having trouble filling empty seats. Apparently they are, at least according to a new survey. Nearly nine out of 10 financial services executives find it a challenge to recruit skilled financial services employees. The new study, commissioned by search firm Robert […]
How a £1m visa can buy you a banking job in the City of London
Financial services recruiters say some overseas candidates from non-EU countries are getting preferential access to jobs in the City of London by exploiting a feature of the UK’s visa system which allows people to work in the country if they have £1m in a UK bank account. The UK government offers a so-called ’Investor Visa’ under which people […]
Last year the average banker at Goldman Sachs in London was paid $676k
On an average compensation per head basis, Goldman Sachs is the best paying investment bank globally. In 2012, it paid its average global employee $400k. However, Goldman’s generosity to its employees all around the world is nothing compared to its generosity to employees in London. Last year, the average banker at Goldman Sachs International – […]
From the City to the Sahara: Why investment bankers rule in the ultra-marathon
Working in investment banking isn’t always great for your health. Long hours, stress, a sedentary lifestyle and, according to some reports, a predilection for substance abuse has led to a reputation as an industry that can ruin both body and mind. And yet, many bankers don’t just manage to keep fit, they take it to […]
Lunchtime Links: How a thirty five year old blonde ex-model turned banker made herself £30m
Remember Amanda Staveley, the beautiful blonde ex-girlfriend of Prince Andrew who brokered the transaction with Sheikh Mansour Bin Zayed Al Nahyan of Abu Dhabi which helped save Barclays after the financial crisis? Euromoney has been party to some emails showing that Staveley was very well rewarded for her part in the deal: she made £30m. At […]
Investment banks are still handing out pay rises to developers
Investment banks may not be going overboard when it comes to recruiting technologists at the moment, but most firms understand that pay is one advantage the financial sector has when it comes to attracting and retaining talent. The result is that technical salaries are continuing to rise. It’s still a good time to work as […]
The Next CEO of J.P. Morgan Is…
Matt Zames is a rock star at J.P. Morgan. The 42-year-old, who was just named the sole chief operating officer at J.P. Morgan, has been promoted three times in less than a year. He’s now the clear frontrunner to succeed Jamie Dimon when the 57-year-old chief decides to hang them up. Zames was introduced as […]
Ten key facts about the first quarter results at Deutsche Bank and UBS
It’s results time for Deutsche Bank and for UBS. Deutsche Bank’s results are available here. UBS’s results are available here. If you lack the time to study each bank’s release in detail, this is what you need to know. 1. UBS has been vindicated in its decision to slash fixed income trading In the first quarter of […]
Daily Dispatches: Asia in grip of compliance talent shortage
Earlier this month we reported that a shortage of compliance professionals in Singapore and Hong Kong was driving up salaries and forcing banks to look abroad for talent. Now a new survey by recruitment firm Robert Half has confirmed that middle-office and support roles are in demand globally, with accounting, compliance and risk staff particularly […]
When a million isn’t enough: why top bankers are struggling to get by
In theory, a seven figure annual pay packet should be more than enough to live on. In the UK, only the top 1% of income taxpayers earn anything more than £150k according to figures from the Office of National Statistics. In the US, the top 1% of people earn more than $370k according to the […]
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