UK
Company: Bank of America Merrill Lynch
The demise of the banking elite and rise of the smug compliance person
So you want to have a banking job? And you want to have a banking job in the so-called ‘front office’, where you will be able to earn lots of money and make calls on the direction of asset prices? Good luck to you. While hundreds of thousands of people work in banking worldwide, the […]
Seven reasons to leave your job just after a promotion
Quitting your company soon after you’ve been promoted sounds counter-intuitive, but it can be the best way to secure even more money and a better job. If your own firm wants you enough to promote you, why wouldn’t your competitors want you even more? Headhunters said they regularly targeted those who had recently stepped up […]
Eight new London finance firms where bankers and traders may find jobs
With large financial institutions cutting jobs, financial professionals are considering opportunities in boutique operations. Traders are launching their own hedge funds and investment bankers are looking to private equity and consulting work for new opportunities. Here are eight firms newly-registered with the UK Financial Services Authority and featured on the monthly update from IMAS Corporate […]
Lunchtime Links: The biggest pay rises in 2013 are in hedge funds, fixed income and equities
Hedge funds may soon be hampered by new compensation rules that require them to pay no more than 50% in cash and to defer 40-60% of variable comp – something that is causing consternation in Mayfair – but this year at least, they’re more likely to hand out big bonuses. Mercer has just released its […]
Investment banks’ bonus announcement and payment calendar for 2013
Bonuses may be becoming smaller, more convoluted, deferred and subject to clawback, but the majority of large investment banks are sticking to their traditional payment schedule. We’re in the midst of bonus season – most US firms have announced or paid this year’s variable compensation – and despite heavy fines from Libor manipulation and payment […]
The hourly wage of junior investment bankers is $16
A new survey of graduate employers from the British Association of Graduate Recruiters (AGR) suggests university students who go into graduate jobs in investment banking aren’t getting such a great deal. In 2012, the median salary for graduates going into investment banking roles was £38k ($60k), says the AGR. Past AGR surveys indicate that graduate […]
Late Lunchtime Links: 6,000 bankers in London now led by a man deemed grossly incompetent
When Alex Wilmot Sitwell joined Bank of American Merrill Lynch in London last year, as president of Europe and emerging markets ex-Asia, it was rumoured that the Financial Services Authority (FSA) took longer than expected to process his application. Now we know why. Wilmot Sitwell was chairman of UBS’s investment bank at the time of […]
Lunchtime Links: Goldman’s fiscal dodge, why banking stock options aren’t so bad
Goldman Sachs sped up paying share options worth $65m to senior executives in order to avoid the higher rate of tax for those earning over $400k, just hours before the fiscal cliff deal was finalised. The bank would normally have granted the stocks in the January bonus pool, but accelerated the payments in order to […]
US Students Still Like Banking While Europeans Say No Thanks
Students in Europe are less likely to apply for investment banks’ graduate schemes than their counterparts in the US and Asia. Graduates’ interest in investment banking careers has declined globally since the financial crisis and subsequent increase in layoffs and pay cuts in the industry. But the large US institutions remain attractive to US graduates, […]
Cloud computing and app development – two areas where banks are hiring technologists
Financial services firms had held off investing heavily in either cloud computing or mobile app development for one common reason – security concerns. However, as both technologies have become more pervasive, investment banks, fund managers and retail banks have had to take the plunge or risk falling behind. Jobs are emerging in these areas. Banks […]
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