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League table of first half compensation

Needless to say, Goldman Sachs has accrued the most compensation per head in the first half of this year (although this may merely be an accounting convenience).

As things currently stand, Goldman is followed not particularly closely by Deutsche Bank. Morgan Stanley lags a long way behind everyone, but this may be more attributable to the fact that brokers are included in its count, than that it pays its investment bankers badly. Bank of America Merrill Lynch has not been included in the ranking as it doesn’t split out pay for its investment bankers.

1) Goldman Sachs

Accrued compensation per head, 1H2009: $386k (vs. $244k 1H08)

2) Deutsche Bank (corporate and investment bank):

Accrued compensation per head, 1H2009: $298k (€209k) (vs. €174k 1H08)

3) Credit Suisse (investment bank)

Accrued compensation per head, 1H2009: $281k (CHF301k) (vs. CHF200k 1H08)

4) JP Morgan (investment bank)

Accrued compensation per head, 1H2009: $232k (vs. $118k 1H08)

5) Morgan Stanley

Accrued compensation per head, 1H2009: $95k (vs. $150k 1H08)

Comments (15)

Comments
  1. Where the hell is the soon-to-be Goldman Barclays Capital???

  2. a league table of 5 companies…

    what a league

  3. I hate these League tables, they imply everyone in the company gets that figure per head. No wonder the general public hate all Bankers when in reality its the top 5% that will get these figures.

  4. @ Dr – Barclays Capital isn’t on there because a) it hasn’t reported and b) it doesn’t break out investment banking headcount/pay.

    @ CT – A five bank league table is admittedly less appealing than a 20 bank league table. Unfortunately however, these are all the banks that have reported so far, and all other/remaining banks don’t break out comp and headcount. We could have waited for UBS, but decided not to.

    Sarah, Editor, eFinancialCareers Reply
     
  5. Median would be a more interesting and meaningful number than the mean Sarah… It’s not saying much here if the MDs get the 1 million and the junior analyst the 50k and the accrued compensation per head is 525k.

    Gini Coefficient Reply
     
  6. @Gini – I agree. Unfortunately, mean is all that’s available as banks are strangely silent on the subject of compensation distribution.

    Sarah, Editor, eFinancialCareers Reply
     
  7. Gini, to save Sarah the time – it’s imposiible to calculate a median figure from the data in a set of financial accounts, you might as well say “It would be more useful if we had all staff listed by name with their salary and bonus beside it” it ain’t gonna happen (unless the Fed get their way

  8. do you ever get sick of all the whingers, Sarah? If they got on with their jobs instead if of posting comments, their comp might hit those heady heights

  9. @ Phil – No, I love you all.

    Sarah, Editor, eFinancialCareers Reply
     
  10. hehehe still no UBS then? how on earth did they come up with that compensation model of theirs

  11. You and nine of your friends are at a party. Uncle Myron gives you $9,999,991, and each of your friends $1. So, the average compensation in the pool is a million per head. Seem accurate?

    The mean is a pretty useless number when talking comp. We all know that 50% of the pool goes to about 1% of the employees. Can we please stop making it look like people in the mail room at Goldman make $360,000.!!!!!!!! This is statistics 101.

  12. The only data they’ve got is total h1 comp and number of employees. How are you supposed to calc a median without the shape of the distribution big boy? Or are you one of those people that thinks they know stats because they read how the black-scholes model works on the back of a box of cocopops?

  13. Can someone scan the cocopops box with said formula on please? I need it so that I too can be one of those people that understands stats.

    Many thanks

  14. GS pays like cr@p if you are less than MD – the numbers mean nothing, over the years i know of many examples of GS not being able to compete on pay (me included)

    i’d rather work for a much lower tiered bank for sure

  15. how depressing it is to see my ex-employer being second when I am collecting the dole.

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