Emolument.com the real time pay data provider has pulled the numbers from the pay submissions of 5,500 banking professionals working in London. Emolument's verdict on the median pay for the analysts, associates, vice presidents, directors and managing directors at Goldman Sachs, Deutsche, Bank of America Merrill Lynch, J.P. Morgan, Barclays, Citi, and others is below.
The table below shows the median salary and bonus for first year, second year, and third year analysts working in front office jobs in the City of London. Conclusion: you probably won't get a big bonus at a French bank or RBS.
Median pay for associates in London investment banks
The table below shows the median salary and bonus for first year, second year, and third year associates in front office jobs in London. Morgan Stanley pays the most.
At VP level, Goldman Sachs has pulled away from the crowd, according to Emolument. It puts median pay for a VP at Goldman at £220k ($332k). That compares to £141k at RBS.
Bank of America Merrill Lynch is most generous at director-level according to Emolument's data. RBS is the least. Don't expect a big bonus from a French bank.
Lastly, here's how much Goldman says the median managing director (MD) is paid at various banks in London. If you thought the big US investment banks paid the most, you were wrong. With the clear exception of J.P. Morgan, the biggest median pay packages for senior staff are to be found at the big Europeans like UBS and Deutsche. This isn't to say that top US investment banks don't pay a lot - it's just suggests that their high pay is heavily skewed towards a few top people.
Curiously, Nomura doesn't pay its median director well compared to other banks, but it pays its median MD very well indeed.
For those who like their data in tables, we've replicated the charts above in table format below.
Photo credit: Robert Pittman