League table of banking pay: 2008

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Wondering why all those people are leaving big houses for boutiques? Here's the answer...

1. Greenhill & Co.:

Average total comp per head: $477k

Headcount: 214 (Dec. '08)

Total compensation expenditure 2008: $102m

2. Lazard

Average total comp per head: $456k

Headcount: 2,474 (Sept. 30th '08)

Total compensation expenditure 2008: $1.1bn

3. Evercore

Average total comp per head: $435k

Headcount: 320 (314 at Sept. 30th '08, six senior bankers added subsequently)

Total compensation expenditure 2008: $139m

4. Goldman Sachs

Average total comp per head: $364k

Headcount: 30,067 (Dec. 08)

Total compensation expenditure 2008: $11bn

5. Deutsche Bank (Corporate and Investment Bank)

Average total comp per head: €257k ($328k)

Headcount: 15,033 (4Q08)

Total compensation expenditure 2008: €3.9bn

5. Credit Suisse (investment bank)

Average total comp per head: CHF364k ($311k)

Headcount: 19,700 (4Q08)

Total compensation expenditure 2008: CHF7.2bn

6. JPMorgan (investment bank)

Average total comp per head: $276k

Headcount: 27,938 (4Q08)

Total compensation expenditure 2008: $7.7bn

7. Morgan Stanley

Average total comp per head: $262k

Headcount: 46,964 (4Q08)

Total compensation expenditure 2008: $12.3bn

8. Merrill Lynch

Average total comp per head: $256k

Headcount: 58,500 (4Q08)

Total compensation expenditure 2008: $15bn

9. UBS

Average total comp per head: CHF245k ($245k)

Headcount: 17,171 (4Q08)

Total compensation expenditure 2008: CHF4.9bn

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