Will London salaries increase again ?
Let me know your thoughts.
Although salaries increased, given sky high inflation and the fact that the previous salary increase changes a bit the compensation order (eg some top paying EBs are now significantly underpaying vs. Goldman), do you think we’re going to see some movement this summer ?
I'm at a European BB and I know management are currently discussing raising salaries again. I doubt it happens this summer (unless another bank bumps early), but I'd be surprised if it doesn't happen in the next 12 months.
Which one if I may ask? And what exactly is „management“?
This question might be stupid but what do EBs vs BBs tend to pay (esp at analyst/assoc level)?
Is there actually such a huge difference? Thought they all pay around 70k? Or are the bonuses that much different?
There is currently up to £15k gap at the analyst pay level so it’s become quite substantial (used to be less of a difference pre covid at 50-55k AN1).
Also usually EBs give 90-120% bonus while US BBs give <100% and European banks are more around 50-70% from what I heard - others can correct me.
So my point what that some EBs which tended to pay substantially more than European BBs and some US ones are now underpaying so it makes the comparative attractiveness of various banks different than it used to.
I think current market pay is around £70k AN1 and ~115K AS1 base salaries
Awesome. Thanks!
I am at an EU BB and I will not be happy if I only receive 50-70% as bonus, would hope for it to be 65-80%. Does anyone have any figures or can confirm?
I'm not sure if this is normally what happens so I may be reading too much into it.
I recently signed my A2A contract and was told by HR that salaries are currently under discussion and will be confirmed next month. Perhaps suggests there is a rise coming?
US BB if relevant
Depends on the firm. I think BAML are still at 65k for A1 so if you're there then they're likely gonna just raise it to "market" which is 70 now. If you're at GS/JP/MS, then that would be interesting as they're all on 70 rn. I don't have data on Citi
Citi is paying £60k for A1 - would be ridiculous if they don’t raise
GS is still 65
And my bank has been showing signs of wanting to cut benefits.. Irony
Bump
Actually not to mention inflation... last year’s salary bump is not basically the same inflation-adjusted salary lol.
Apparently Roth raised again to £70k
https://www.fnlondon.com/articles/rothschild-junior-pay-70000-20220713
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