Has the latest financial crisis revolutionised risk functions salaries and bonuses?



We have examined 2014/2013 salary and bonus data from 110 Risk professionals working in London, New York, Paris, Zurich, Hong Kong and Singapore at VP level.


Highlights:

  • 2013 saw an aggressive push for Risk VPs in London: base salaries increased by 38% and total compensation by 24% yoy for mid-ranking Risk professionals.
  • US institutions are more aggressive when it comes to recruiting and retaining risk professionals: on average a Risk professional at VP level is paid +27% base salary and +20% bonus compared to a European bank.
  • Is London ahead in terms of learning lessons from the financial crisis? London is where risk professionals are paid the most: on average risk professionals are paid +65% than in any other city.
  • In Zurich, Hong Kong or Singapore, rewarding Risk professionals seems less of a priority with an average total compensation of GBP101,000 (-69% vs London).
    •

    The spotlight has been on Risk functions over the last few years with tighter controls to be implemented necessitating the recruitment of entire teams. These figures suggest that US institutions are taking the matter especially seriously with highly competitive pay packages.



    London201220132014
    Base salary£115,000£155,000£120,000
    Bonus£50,000£57,000£35,000
    Total Compensation £160,000£198,000£160,000

    Source: Emolument Average Figures


    LondonTop US BanksTop European Banks
    Base salary£165,000£130,000
    Bonus£60,000£50,000
    Total Compensation £218,000£180,000

    Source: Emolument Average Figures


    Bonus_London_NYC_Hongkong_Zurich_Singapore_Paris

    Source: Emolument Average Figures

     

    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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