New Bonus season for London advisory:

Not a single title, from Analyst to MD, is down on 2013.. We are only half way through bonus season, but it is already looking sound for the king of Investment Banking jobs.

Could MDs have the least to cheer about in 2014?

Despite sitting at the top of the food chain, MDs were only up +1.6% on 2013 on average, making them the poorest performing title out of the 5 traditional banking accolades. Still, most will still give themselves a pat on the back for taking home an average package of GBP 575,000, probably hoping to reach the 2012 highs of GBP 630,000 some time next year.

Associates meanwhile, who had taken a particular battering in terms of total compensation in 2013, saw a spectacular 23% bounceback in their total compensation, with averages of GBP 144,000. Not a bad number for 25 year olds.

Any Bonus Caps impact so far?

Looking at base salaries, it is clear to see there has been an artificial push at MD level in 2013 and 2014 with a 5-11% annual rise, while for all other titles, numbers remain unchanged overall. With Allowances already appearing at most European banks as a salary component for MDs, which is being tested as a tool to circumvent the bonus caps rules, we are expecting to see base salaries at top levels continuing to rise in the coming years.

The 2014 bonus season has started positively across the advisory and M&A market in London. This is being driven by an increase in corporate activity and the desire by the leading players to recruit and retain the best talent.


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