Eight years after the financial crisis, the highest paid traders in the City of London are those working on structured credit desks. By comparison, nice, safe, innocuous traders on cash equity desks earn nearly a third less.
So says Emolument.com, the real time pay benchmarking firm.
The differential is all in the bonus. Rates traders rank behind structured credit traders (despite seemingly having a better start to the year). Equity derivatives traders earn nearly 20% less than their credit counterparts.
Last time Emolument tracked pay across trading desks, rates traders came out on top - especially at the senior end. The worst paid of all then were the spot FX traders, who are omitted from the latest chart.