If you want to get paid at Credit Suisse, avoid the Asian markets business, where bonuses are being curtailed after a dreadful fourth quarter. Try, instead, the City of Lights: Credit Suisse is said to be one of the top payers in Paris.
Credit Suisse doesn't comment on its compensation, but traders working for rival banks in the French capital say the Swiss bank has a reputation for generosity. While managing directors (MDs) at French banks struggle by on €200k in base salaries, Credit Suisse is said to pay favoured French MDs €400k in base salary alone. "It's one of the highest payers here," says one senior trader.
In light of this alleged generosity, it seems unfortunate that Credit Suisse is making Madrid rather than Paris into its post-Brexit European trading hub. Bloomberg reported that the Swiss bank had chosen Madrid over Paris in November. For the moment, though, Credit Suisse has some cash equities and equity derivative activities in Paris, plus quant trading activities and cross asset solutions sales.
Speaking off the record, one headhunter focused on the Paris market said Credit Suisse also pays its M&A juniors more than rival banks, with French banks like SocGen and Credit Agricole CIB paying the least. Last year, Credit Suisse ranked outside the top 10 for M&A in France, according to Dealogic.
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