British banks don’t get as much traction on Wall Street as their U.S. counterparts and this has often meant they’ve struggled to attract employees who are keener to have big local brand on their resume. Does this mean that they pay more?
It depends on the bank. We’ve looked at the big three UK banks operating on Wall Street – Barclays, HSBC and Royal Bank of Scotland – and compiled salary data to see how they compare. We’ve already done this for Goldman Sachs, Morgan Stanley, Bank of America Merrill Lynch and J.P. Morgan as well as continental European players Deutsche Bank, UBS and Credit Suisse.
RBS has been cracking down on how much it pays its investment bankers and has been retrenching in international markets like the U.S. anyway. HSBC, while a stable employer, has a reputation for paying less than most of its peers. Barclays, however, is on a recruitment push in America, and this is reflected in the salaries on offer.
Barclays appears to have the highest paid analysts of the three by a significant margin and in fact came out on top across the board with the exception of the average director salary, where the RBS figure is the highest and HSBC the lowest.
Compare salaries at these British banks in New York to what UBS, Credit Suisse and Deutsche Bank pay on Wall Street.
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