Overview of the London Investment Banking Salary and Prospects

We recently discussed the Singapore investment banking salaries and this week we’d like to share some insights about the UK #IBsalaries for all our followers applying to IB roles in the UK. Especially after the increment that #bulgebracketfirms made in 2021 for analyst and associate roles to attract better talent and incentivise the demanding hours for those at the bottom of the pecking order. 

The compensation figures are mostly sourced from experience with our students as well as the data reported by the recruitment firm, Arkesden. Goldman Sachs, JPMorgan, BoFA, Deutsche Bank and Morgan Stanley retained the top spot in terms of annual salaries and benefits that they offer for internships and analyst positions. 

 

According to a 2021 salary survey from a recruitment firm, Arkesden Partners, the standard salary for a first year analyst in a London investment bank can range between £60,000 to £65,000. Banks like Citi and Goldman Sachs are known to increase this budget to anything between £80,000 to £90,000 in the next three years, with some of them offering accelerated promotion to associate roles. However, as an associate, you can earn in the range of £115,000 to £140,000 with firms like UBS, GS, or Morgan Stanley.  

In contrast, the Hong Kong IBD (grad job) salaries range from HKD 60,000 to 78,000 while you can make anything between HKD 50,000 to 70,000 in #salesandtrading or #globalmarkets roles.

 

However, as you move on to the VP level at firms like UBS, Bank of America, and Credit Suisse, the same survey claims the compensation to be as high as £165,000 with other BB firms offering nothing less than  £140,000. 

 

Of course this will put you in the top 1% of the highest income bracket across jobs and countries. But most banks witnessed an exodus to buy-side roles like private equity or other alternative career paths especially among its younger talent. The compensation hike is also meant to discourage the exit and hopefully retain analysts and consultants in the process.  

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