City of London remuneration lags behind Canary Wharf
We have examined 2014/2013 salary and bonus data from 1,863 Canary wharf and City bankers
- Across all levels of seniority, Canary Wharf is the most rewarding city: 9% and 8% total pay gap at Intern and Analyst level respectively, widening out to 21% at Associate level
- Base salaries are higher in Canary Wharf: by 12% at VP level, 9% for and 4% at Associate and Managing Director level
- ... as are bonuses! at VP level, bonuses are 25% higher in Canary Wharf, 50% higher at Analyst level, 33% for VPs, and 23% at Director and Associate levels.
It seems that the extra commute into Canary Wharf is worthwhile after all.. and with top investment banks such as Deutsche,BAML and JP Morgan making the move, the gap is likely to widen even further.
|Canary Wharf||City of
|Title||Base Salary||Bonus||Base Salary||Bonus|
|Student||£ 45,000||£ 0||£ 41,000||£ 0|
|Analyst||£ 50,000||£10,000||£ 50,000||£5,000|
|Associate||£ 78,000||£40,000||£ 75,000||£31,000|
|VP||£ 125,000||£90,000||£ 110,000||£60,000|
|Director||£ 168,000||£150,000||£ 153,000||£120,000|
|MD||£ 260,000||£383,000||£ 250,000||£293,000|
Source: Emolument.com median figure
Source: Emolument.com median figures
Top banks based in Canary Wharf:
Bank of America Merrill Lynch, Barclays, Citigroup, CreditSuisse,HSBC,Halifax,JP Morgan,Morgan Stanley, Santander, Wells Fargo...Top banks based in the City:
BNP Paribas, Caixa Bank, Commerzbank, Credit Agricole, Deutsche Bank, Espirito Santo, Lloyds, Mitsubishi, Royal Bank of Scotland, Societe Generale, Standard Chartered, UBS...
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