How long does it take to become managing director?
Some banks will get you to the top faster...
Europe goes for wise: European institutions such as Lloyds or Societe Generale run MD pools with on average 16+ years of experience.
While US banks go for bold:Goldman Sachs or Morgan Stanley do not hesitate to appoint Managing Directors with under 14 years of experience, with an average MD age of 13 between them. They also happen to be among some of the best paying banks.
Average years of experience for MDs
Top 3 banks with youngest MDs
| Bank | Average years of experience |
|---|---|
| Goldman Sachs | 12 |
| Morgan Stanley | 14 |
| Bank of America Merrill Lynch | 15 |
Top 3 banks with most experienced MDs
| Bank | Average years of experience |
|---|---|
| Societe generale | 19 |
| Nomura | 19 |
| Lloyds | 19 |
... but it's not all about title: how does pay compare?
Being a young MD does not mean you will be paid less: banks with the youngest Managing Directors also lead in terms of pay packages
... while patiently waiting for that MD promotion is unlikely to be rewarded financially: while some compensate a slow career evolution by paying good market rates (Nomura, Barclays), other banks do not make up for a low promotion rate (Societe Generale, Lloyds).
Average yearly income for MDs*
Top 3 banks in terms of MDs' income*
| Bank | Average yearly income |
|---|---|
| JP Morgan Chase | £940,000 |
| Deutsche Bank | £723,000 |
| Bank of America Merrill Lynch | £701,000 |
Bottom 3 banks in terms of MDs' income*
| Bank | Average yearly income |
|---|---|
| Societe Generale | £354,000 |
| Commerzbank | £410,000 |
| Lloyds | £428,000 |
*Salary and bonuses included
We have examined data from 3,375 employees working for London's top investment banks between 2013 and 2015.
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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