Three years out of university, junior investment bankers in London are now averaging £102k in combined salaries and bonuses. However, indications are that all isn’t well in the junior ranks.
“We’ve spoken to a lot of bankers who accept that they’re paid well compared to other industries,” says one recruiter. “However, there’s also a feeling that they’re having to work harder for the same money. People feel like they’re being squeezed,” he adds.
Even so, as the chart below shows pay for junior and mid-ranking bankers is still very generous. As bonuses have been trimmed, salaries have risen. The new Dartmouth Partners compensation survey says average pay has risen by ~5% this year for junior staff. And it looks set to rise further still. “Ultimately. there is a lack of supply and the best candidates are picking up multiple offers,” says Dartmouth Partners CEO Logan Naidu.
The results to the survey – based upon data collected from respondents in Dartmouth’s candidate network, are presented in the table below. Contact Dartmouth Partners for the full survey.
|Job Title ||Mean Base Pay (Salary) £k||Mean Bonus £k||Mean Total Compensation £k||% Deferred|
|VP 1||120||118||238||20-50% over 3+ years|
|VP2||126||143||269||20-50% over 3+ years|
|VP3||134||191||325||20-50% over 3+ years|