What's the pay gap between boutiques and listed banks?



The pay data included in this article comes from 2,140 Front Office Bankers working in London. "Boutiques" are banks that employ between 50 and 250 persons.


Analysts

Salary

Bonus

Pay Difference

Listed Investment Bank

£50,000

£7,000

18%

Boutique

£45,000

£1,500


Directors

Salary

Bonus

Pay Difference

Listed Investment Bank

£160,000

£130,000

24%

Boutique

£130,000

£90,000


MDs

 

Salary

Bonus

PayDifference

Listed Investment Bank

£250,000

£260,000

29%

Boutique

£187,000

£177,000


Big banks pay more than boutiques : There is an important pay gap at every level of seniority with sizeable differences in both salaries and bonus amounts at best paying banks.


The gap is increasing with experience : The gap between boutiques' and big banks' pay is widest at MD level hitting 29% vs. 18% for Analysts and 24% for Directors.


But Boutiques have their perks too : in a boutique, 1 in 2 Directors can expect to be promoted to MD, against only 1 in 3 in Big banks.

 

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