While everyone around is cutting pay and curtailing bonuses, NM Rothschild & Sons has been going against the grain. Last year, the illustrious house of M&A, which ranked first in the Dealogic UK league tables for 2018, increased overall compensation spending by 60%.
After the splurge Rothschild's average UK employee earned £341k ($438k) in combined salaries and bonuses in 2018 according to a recent filing for NM Rothschild Banking Limited on Companies House. In 2017, the average Rothschild banker in London was scraping by on £226k.
Rothschild's generosity followed a 60% increase in the bank's London revenues and a 127% increase in its London net profits compared to 2017.
2018 was a strong year.
There was even a bit of hiring. Rothschild ended 2018 with 748 people (440 advisory bankers, 249 support staff, 59 bankers and merchant bankers), up from 710 people (415 advisory bankers, 239 support staff, 61 bankers and merchant bankers) in 2017.
Rothschild pays mosts of its staff deferred cash bonuses (over three years), but special staff also get deferred equities.
Working hours at Rothschild are comparatively modest according to recent data from Wall Street Oasis. Rothschild is also known for the long tenure of its senior staff (if you get a job there you may never leave), its company butlers and its office pantry.
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