Frankfurt knocks London off the top spot!

We have examined 2014/2013 salary and bonus data from 488 MDs working in front office in London, Paris, New York, Frankfurt, Hong Kong, Singapore, Dubai, Madrid, Zurich, Geneva and Milan.


  • What a surprise! Frankfurt is the most generous with his senior bankers -­ just a MD can earn a total compensation of £850,000 which is higher than London's median (£839,000)
  • Working in Hong Kong and Singapore for larger bonuses: both locations pay bonuses > 1x base salary with bonuses making up 54% and 60% of the total compensation respectively, vs. 51% in London and 26% in Geneva
  • Paris losing substantial ground: French bankers are the lower paid with salaries 208% lower than in neighbouring Frankfurt
  • Toeing the line: MDs are still making a lot of money but banks respect the EU bonus cap rule

Even though top paying cities such as Frankfurt, New York, London and Hong Kong jostle for the best-­paying spot, it is worth noting that this ranking would look very different if it were adjusted for tax - with Hong Kong a clear step ahead of the pack.

CityBase SalaryBonus
New York$400,000$400,000
Hong Kong$370,000$428,000



Emolument provides bonus and salary statistics based on data submitted directly by professionals like you. It is free, anonymous, and already a trusted tool for thousands of professionals worldwide. Are you paid enough? Click here to find out now.

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