Where can you earn the most working in an investment banking division (IBD) in London? New data from recruitment firm Dartmouth Partners suggests there's a lot of similarity - although some banks consistently pay more than others.
The tables below show Dartmouth's figures for salaries, bonuses, total compensation and bonus deferrals, by bank. The charts below that compare total compensation for each firm.
Logan Naidu, CEO of Dartmouth Partners, says it's notable that most banks pay within a similar range: "Our data shows that everyone pays very closely. Rather than choosing a firm for the money, you’re better off looking at all aspects – the culture, the people, the strategy.”
However, as the charts at the bottom of the page show, Goldman Sachs and UBS almost always appear to pay their associates more than the rest, while Barclays, Citi and Credit Suisse are frequently to be found at the bottom of the spread.
Naidu declined to comment on the best and worst payers. However, the head of a rival recruitment firm in London said last month that Barclays had paid its juniors badly. He claims that Credit Suisse's associates were poorly paid too - although those we spoke to were happy with their lots.
Dartmouth's figures differ to those issued last month by Arkesden Partners. These suggested that total compensation is £7k ($10k) higher for the highest paid second year associates in London and that Credit Suisse and Barclays are among the top payers at this level. While not commenting on Akesden's figures directly, Naidu said Dartmouth's figures are based on a survey of people in the market rather than pay figures taken from people who've changed jobs.
Photo credit: london by Roberto Trombetta is licensed under CC BY 2.0.