How much can you earn outside of the ‘glamour’ roles of M&A within the investment banking division? While M&A teams and debt capital markets divisions have enjoyed a decent 2016, competition for deals in sectors like leveraged finance, restructuring, project finance and syndicated loans have made life tough for bankers in these areas.
Leveraged finance recruitment this year has focused largely on the junior end, according to recruiters Michael Page. For senior bankers in leveraged finance, the axe has been swung, with a number of managing director exits in the past few months alone. Loan syndication teams have continued to shrink, and it’s only recently that there’s been any signs of life in the restructuring recruitment market.
Life has been tough for bankers in these sectors this year, but what are they likely to earn? Figures from Michael Page’s new 2017 UK salary survey suggests that leveraged finance remains the most lucrative of these areas in 2016 – particularly at the senior end. First year analysts come in on £45k – a standard starting salary for IBD – while it’s possible to earn £500k at MD level. Restructuring jobs start out at £40k, and base salaries don’t head north of £300k at the senior end, the figures suggest.
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