While bankers’ base pay is rising and – as a proportion of total compensation – their bonuses are (meant to be) falling, the fund management pay trend appears to be moving in the opposite direction.
According to a study by Create Research, 58% of fund managers have frozen base pay and have either moved or are moving towards a more performance-oriented compensation model.
It comes at a time, when banks are espousing higher fixed costs. The Financial Times reported yesterday that base salaries for managing directors have jumped from about $250k (€180k) a few months ago, to closer to $400k now.
Source: Create Research