Standard Chartered tops the ranking of UK’s highest paid investment banks, according to an analysis of employee salaries.
The London-based lender paid its staff a median total compensation of £ 90,000 per year last year, according to data compiled by the recruitment platform Glassdoor. The bank’s median base salary was £ 80,000.
In the overall ranking of the 25 highest-paying companies in the country, Standard Chartered came in fourth.
First was the Salesforce consulting group, followed by fund manager Man Group, who paid an average of £ 93,620 in total per year.
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Credit Suisse came in fifth overall with £ 87,500 and was the UK’s second-largest investment bank.
Consulting firm McKinsey came in ninth place with an average salary of £ 85,160, followed by RBC at £ 85,000.
UBS, Deutsche Bank and JPMorgan make up the rest of the investment banks to feature in the top 25. BlackRock, which is also ranked by Glassdoor as part of the investment banking category, with the group paying between £ 75,829 and £ 80,662 on average.
“Investment banks have long been generous with salaries and bonuses, long before tech companies came along and started competing for talent,” said Amanda Stansell, data scientist at Glassdoor. Financial news. “Bankers have often received quite large bonuses, as successful traders can bring huge profits to the company, and nowadays pay transparency is more and more prevalent, allowing people to see what is happening. ‘they could win with their competition. ”
Compensation in the city has become a priority during the pandemic as stranded bankers complain of burnout, high stress and increasing workloads, creating increased demand for new blood. JPMorgan, Goldman Sachs, Citigroup and Bank of America are among the banks looking to recruit more junior workers during one of the busiest starts in decades.
These banks have around 175 vacancies for analyst and associate positions for their advisory units in the United States and Europe, according to an analysis of their career centers in March.
Meanwhile, a survey by CityParents, an organization that supports parents working in corporate roles, found that 80% did not want to revert to pre-Covid-19 work models. It’s a signal that pay won’t be the only factor for job seekers as the bottlenecks loosen.
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Digital bank Revolut was the only fintech company to make the rankings, paying its staff an average of £ 75,829 per year.
Other major consulting firms in the city included Kearney, BCG, Bain & Co, and Moorhouse Consulting.
Tech companies have also made an appearance in the limelight, as office space in London for major players in the industry has increased in recent years. Facebook was the sixth highest paying company in the UK, while Spotify was in 11th place.
To contact the author of this story with comments or news, email Emily Nicolle