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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 [...]
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, [...]
This is what’s really behind the fuss about Pandit’s excessively generous pay
Suddenly, Vikram Pandit pay be less well off than he’d anticipated. Having had his salary increased from $1 to $1.8m on January 18th 2011, he was theoretically in line for a payment of $15m, plus multi-year incentive compensation of $40m, as detailed in the letter Citi sent to its shareholders before this year’s annual meeting. [...]
Did you know that Standard Chartered pays very large bonuses with limited deferrals?
Standard Chartered has released a lot of investor information today. It includes a remuneration report and Pillar 3 disclosure revealing how much it paid its code staff for 2011. If you thought, as we admittedly did, that Standard Chartered doesn’t pay well, you will be pleasantly surprised. Firstly, the bank’s director’s remuneration report, reveals eight [...]
Salaries for South African financial services professionals are mostly static
If you work in a financial services role in South Africain 2012, your salary will probably be comparable to 2011. The latest salary survey from recruitment firm Robert Walters suggests a degree of stasis in the SA compensation market, with corporate financiers, research analysts, and global markets compliance professionals all paid the same this year [...]
Trauma of the trader who thought he was relocating to Johannesburg for 24m Rand
People in Johannesburg don’t earn as much as in key financial centres like London. Unfortunately, one trader had reason to believe this wasn’t the case. In 2010, JPMorgan offered Kai Herbert, a Swiss currency trader at UBS £196k (2.4m rand) to relocate to Jo-burg. Unfortunately, it made an error on Herbert’s contract and wrote 24m [...]
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 [...]
GUEST COMMENT: Bank by bank, this is what associates in M&A got paid in London this year
“’All I wanna do is go the distance. Nobody’s ever gone the distance with Creed, and if I can go that distance, you see, and that bell rings and I’m still standin’, I’m gonna know for the first time in my life, see, that I weren’t just another bum from the neighbourhood.” We have taken [...]
This is what you can earn as a quant in London, New York, Paris, Singapore or Hong Kong
We have some figures for quant salaries from recruitment firm Selby Jennings. They hark back from November, but we are assured they remain correct. They are presented below, without comment.
Everything we know so far about bonuses and deferrals, bank-by-bank
As a follow-up to our earlier article on the state of bonuses, cash caps and deferrals on a bank-by-bank basis this year, here’s what we know now. Feel free to email us at Editor@eFinancialCareers.com or to leave a comment if you know additional details that we don’t. Bank of America Cash bonus cap? Yes, but it [...]
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