How much will senior structured credit professionals earn this year? Lots, according to a survey of leading structured credit search firms.
The survey, by Structured Credit Investor, suggests managing directors in structured credit will receive an average salary in excess of 125k this year, plus a bonus of more than 2m.
The best paid structured credit pros are working in sales positions. Managing directors in structured credit sales receive average salaries of 127,721 and bonuses of 2,162,204.
By comparison, structured credit traders at managing director level command an average salary of 133k plus a bonus of 1,781,906 (to be precise).
Unsurprisingly, pay for structured credit expertise exceeds that for standard credit products: structured credit pros now earn an average of 30% more than their credit flow colleagues. The differential is highest at executive director level, where pay is an impressive 35% more.
Shaun Springer, chief executive of search firm Napier Scott - one of those consulted for the survey - says structured credit professionals have had a good year, "At some banks, credit derivatives people haven't done as well they'd expect, but generally speaking it's been a fantastic year for the industry - lots of new products, far more players, far more liquidity and the spreads have been very favourable."
Average salaries and bonuses, structured credit pros
Executive director, structured trading
Salary: 107,193. Bonus: 1,076,796
Executive director, structured sales
Salary: 114,440. Bonus: 916,130
Director, structured trading
Salary 90,206. Bonus: 632,581
Director, structured sales
Salary 96,070. Bonus: 708,730