Which job will pay you 77% higher bonuses?
Banks still pay better
- At junior level, banks already stand out as better payers: analysts receive on average 15% more base salary at banks vs. asset management firms
- As seniority levels increase, so does the base salary gap: from a relatively tight 15% differential at analyst level, the gap widens to 37% at VP level and all the way up to 71% at MD level
- Bonuses are a bankers privilege: at every level, bonuses are on average 77% higher for bankers than they are for asset managers
Since the last financial crisis and years of dwindling returns, asset managers fees are under more pressure than ever, so while bankers try to make the best of EU bonus caps by finding ways of circumventing the rules, asset managers do not look like they are going to close the gap with bankers anytime soon.
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