ZA
Late Lunchtime Links: Some MBA interns are making $20k a month in consulting
Forget investment banking: consulting is shaping up as the place to be, especially if you’re an MBA. The website Poets and Quants has looked through U.S. business schools’ records of student pay and identified that in 2012 consulting interns were better off than banking interns. The average consulting intern at Harvard or Stanford made $10.5k a […]
The new stealth-cap on City bankers’ pay: £425k
Sometime in the next few days, the British Parliamentary Commission on Banking Standards is expected to produce its much-anticipated report on the future of British banking. If rumours are accurate, the report will say that ‘top bankers’ in the UK should have their bonuses deferred for 10 years. This would amount to a cap on compensation in […]
No pay woes for Asian finance workers
Finance workers in Asia are still enjoying significant salary premiums when moving jobs but they are increasingly placing more emphasis on issues other than just package, training, career development, brand and work-life balance cited as important attributes in a potential employer. The region is famed for the high degree of job-hopping – one recruitment consultant, […]
Singapore finance salaries still tops in wage growth
Employees in the financial services sector in Singapore enjoyed the best basic wage growth in the country in 2012, according to the latest annual report on wages by the Ministry of Manpower (MOM), but the year-on-year increase of 5.1% was sharply down from the year before, when salaries rose 7.4%. MOM says that the subdued wages […]
UBS has hiked some banker salaries in the City
Excitement in the City: a rumour has been circulating to the effect that UBS has hiked salaries for its ‘code staff’ by 25%. One search firm is said to have emailed its client base with the good news. Code staff are regulated employees who are obliged to comply with European compensation edicts. UBS is said […]
FCA chief: The EU bonus cap is not a good idea. The rise of the ethical banker
The EU bonus cap will do little to rein in pay or reduce the poor behaviour of investment bankers believes Martin Wheatley, the chief executive of the newly created Financial Conduct Authority. Speaking at the London Business School Global Leadership Summit in the City today, Wheatley said that capping banker bonuses to 100% of salary […]
Tax free investment banking salaries on the up in Dubai
If you’re a senior investment banker looking for a new position, the United Arab Emirates is not necessarily the best place to apply – jobs have been cut, few new opportunities are presenting themselves and the anaemic fee pool has only been edging up for the past few years. There is one advantage to making […]
Rich hedge fund manager has terrible year, still earns $33.5m
One of the UK’s richest hedge fund managers took home $33.5m in a year when profits at his firm fell by nearly 50% and investors pulled out over performance concerns. Clive Capital, the commodities-focused hedge fund run by ex-Moore Capital trader Chris Levett, posted profits of $39.6m for the year ending February 2013, compared to […]
Late Lunchtime Links: Further signs that French banks are unfeasibly poor payers
French banks are not known for being super-generous to their investment bankers. Yes, some senior bankers at the top of the pile are said to earn gigantic amounts, but the average Parisian investment banker is likely to be less well off than his or her counterpart at a U.S. bank in the City of London. […]
Big change to small bonuses at Nomura
Nomura’s bonuses have now been announced. The bank isn’t commenting on its payments, but headhunters in London say the numbers were revealed earlier this week. There has apparently been some disappointment, and it seems that some interesting changes have been made. Headhunters said Nomura has reduced its deferral period. As we suggested a few weeks […]
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