Is Citi the best firm for banker pay at (non board) Director level ?

Gold Dollar

Not a firm that you usually think of in terms of top pay.

Emolument.com has examined 2013 salary and bonus data from over 722 Directors working in front office Investment Banking & Markets jobs in London.

The findings reveal that:

Citigroup led the field with Directors averaging £370,000 in annual total compensation.

Credit Suisse and Deutsche were neck-and-neck just behind in 2nd and 3rd place.

Perhaps surprisingly, the top tier US institutions (Goldman Sachs, JPMorgan and Morgan Stanley) were further down the rankings in 6th, 8th and 9th place respectively but all the top ten firms are relatively close.

These US firms however are at the top of the table when looking at more senior Managing Director remuneration.

As the lowest payer, Lloyds (£158,000) averaged less than half that paid out by the leading European banks, Deutsche Bank (£335,000) and Credit Suisse (£325,000), even lagging far behind Spanish bank Santander (average £207,000)

Key takeaways

At Director level a two tier market exists with the leading firms paying within a few thousand of each other but a significant gap opening up to the rest of the market

European banks are still competing fiercely with the top US bank when it comes to remuneration at this level of seniority but are losing out at the very highest levels

Emolument.com was launched in 2012 as the only real-time bonus & salary benchmarking site dedicated to finance and other professional services industries. With over 16,000 contributions from 2,500 institutions so far the service has become the leading provider of validated real-time remuneration data.

Emolument.com

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