What about the provinces?
We have examined salary and bonus data from 1,282 professionals working in front office for banks at Director level.
We thought we would look at other financial centres away from the usual capitals of the banking world to find out if they lagged far behind the usual suspects or if bankers would be better off aiming for the quieter destinations: lower tax rates, better quality of life...
Key Highlights:
- Singapore and Hong Kong sandwich London: the two Asian main market places are respectively ranked 2nd and 4th in terms of total compensation - 16% tax rate and weekend trips to Thailand anyone?
- Dubai and Doha are poaching talent with competitive base salaries - again, think attractive tax rates!
- Johannesburg, Milan and Madrid take a back seat: these secondary market places struggle to offer total compensation packages beyond 64% of London rates. But then, long lunches, weekends on lake Como, and a dip in the backyard swimming pool upon returning home might just put things in perspective.
| City | Base Salary | Bonus | Total Compensation |
|---|---|---|---|
| Singapore | £168,000 | £169,000 | £338,000 |
| London | £160,000 | £150,000 | £310,000 |
| Hong Kong | £163,000 | £146,000 | £308,000 |
| Doha | £150,000 | £129,000 | £279,000 |
| Toronto | £128,000 | £152,000 | £279,000 |
| Sydney | £151,000 | £126,000 | £277,000 |
| Dubai | £156,000 | £102,000 | £263,000 |
| Johannesburg | £108,000 | £97,000 | £206,000 |
| Madrid | £103,000 | £110,000 | £201,000 |
| Milan | £102,000 | £91,000 | £194,000 |
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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