Perella Weinberg is a corporate finance boutique. But it works on big deals. It also has a reputation for big pay. How big? Results are out for Perella Weinberg’s London operation in the year ending December 2016, and they suggest really rather big indeed.
As the chart below shows. the average of Perella Weinberg’s eight partners in London was paid more than £1m ($1.31m) last year, and its most highly paid partner was paid £1.7m. The average of its 91 mere employees was paid £250k.
The bad news is that pay at Perella is plummeting. The poor partners got 27% less last year than in 2015. The poor employees earned 12% less. The highest paid partner had to make do with £1.3m less in terms of profit share.
Blame falling profits (revenues were stable). Why? Depreciation, payments to auditors, the cost of leasing an office in London all went up. If Perella’s people want to get paid more this year, they’ll have to work harder to compensate.