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.

CityBase SalaryBonusTotal 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

 

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