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Forecasts for 2015 Bonus Vintage


We have examined salary data from 3,600 professionals working in front office in IBD, FICC and equities in London for 2014.


Highlights:

  • Origination and advisory professionals have momentum: thanks to a strong year of dealmaking by M&A departments, trickling down to new issuance for DCM and ECM markets, we expect bonuses to be up by 25% on average
  • Equities bonuses should be in slight decrease: despite a satisfying year across many equity desks, especially in prime services, bonuses are expected to be unchanged to down slightly (3%), which is mainly due to losses in the equity derivatives market
  • Notable decline for FICC bonuses: affected by poor results on Rates, FX and emerging markets, FICC industry professionals will see there bonus melt away by 5%, but we expect Credit to stand out, having benefitted from new issuance in 2014

IBD Equities FICC 
 2014 2015E20142015E20142015E
Associate36,00045,00024,00023,00041,00038,000
VP84,000105,00043,00041,00077,00073,000
Director120,000150,000160,000155,000150,000142,000
MD158,000198,000178,000172,000290,000275,000

While our forecasts look at bonus pools per business line and the historical distribution by title, we expect to see a strong trend of rewarding more junior bankers in 2015. Many teams encountered a major retention issue with young talent keen to make the switch to the buy side or private equity firms, where they can expect bonuses uncapped by regulation, and often a less intense corporate culture. This exodus away from banking have left entire teams depleted of their Associates and VPs, leading to incapacity to pitch or execute new business.

 

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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