Wealth or asset managers: any pay difference?
We have examined 2013/2014 salary and bonus data from 796 wealth and asset management professionals working in London.
Highlights:
- Forget Wealth young graduates: Analysts earn 29% more as asset managers with bonuses 4x higher than in wealth management.
- As seniority increase, the pay gap narrows: At VP level, Asset manager are rewarded with 1.2x wealth management salaries and 2x bonuses; directors earn similar salaries with bonuses 1.8x only.
- No significant difference for senior executives: Asset Management Managing Directors salaries and bonuses are 12% and 8% higher respectively & compensation is therefore comparable at MD level.
The wealth management industry is more focussed on attracting and rewarding key senior executives who bring with them relationships, clients and knowledge than more junior employees, who are perceived as more interchangeable.
| Base Salary | Bonus | Total Compensation | ||||
|---|---|---|---|---|---|---|
| Wealth Mgt | Asset Mgt | Wealth Mgt | Asset Mgt | Wealth Mgt | Asset Mgt | |
| Analyst | £35,000 | £45,000 | £3,000 | £13,000 | £38,000 | £58,000 |
| Associate | £48,000 | £58,000 | £8,000 | £25,000 | £56,000 | £84,000 |
| VP | £71,000 | £86,000 | £25,000 | £52,000 | £96,000 | £138,000 |
| Director | £110,000 | £115,000 | £54,000 | £99,000 | £164,000 | £214,000 |
| MD | £159,000 | £140,000 | £153,000 | £166,000 | £311,000 | £296,000 |
Source: Emolument average figures
Source: Emolument average figures
Source: Emolument average figures - Asset/Wealth compensations coefficient
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