Markets professionals see total compensation continue to rise in 2014 for the third consecutive year

We have examined 2014/2013/2012 salary and bonus data from 835 London front office markets employees (Trading, Sales, Research and Structuring).

Highlights:

• Overall, since 2012, financial markets operatives has seen a steady growth in their pay packages
• Managing Directors were the only executives not to benefit from the rise in total compensation in each year: despite seeing a 13% increase in total comp in 2013 vs. 2012, they are down 10% in 2014 vs. last season
• EU bonus cap legislation already seems to be having an impact: bonuses have not exceeded 2x base salaries in 2014, while some did at MD level in 2013
• As a consequence, base salaries are on the increase this year across all titles especially at senior levels (+21% yoy for MDs, and +8% for Directors)
• Directors have seen the strongest growth out of all banking titles in their pay packages over the last 3 bonus seasons, with base salaries +12 % and bonuses +35%

These numbers show that 2014 has seen a continuing improvement in remuneration across all levels in trading, sales and associated functions in the last two years. In fact our numbers also show a stronger uptick for traders and salespeople than for advisory bankers. As the volume of IPO and M&A activity continues to increase however this trend might be expected to reverse.

	2012		2013		2014
	Base Salary	Bonus	Bonus Salary	Bonus	Base Salary	Bonus
Analyst	£47,000	£13,000	£47,000	£11,000	£53,000	£22,000
Associate	£72,000	£29,000	£74,000	£40,000	£76,000	£42,000
VP	£105,000	£84,000	£108,000	£72,000	£115,000	£76,000
Director	£149,000	£147,000	£157,000	£151,000	£163,000	£167,000
MD	£235,000	£369,000	£228,000	£461,000	£257,000	£409,000

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