For Recruiters
M&A bankers are some of the highest earners.

On average, M&A is one the highest paying jobs in banking

Which is the highest paying job in banking?

According to a new study by pay benchmarking website, Emolument, it's mergers and acquisitions (M&A). Based on data registered by its users and despite the fact that M&A bankers have had a comparatively bad year, Emolument suggests that the median pay for M&A bankers is higher than for people in a range of other banking roles. 

Emolument suggests that median M&A banker compensation in London is £350k ($453k). This amounts to roughly the mean compensation level for third year vice presidents (VP3s) in London according to the recent Dartmouth Partners salary and bonus survey, and may be a bit high given the preponderance of lower paid analysts and associates in M&A teams.

Predictably, all of Emolument's best paid jobs in banking are in the front office: you're not going to make a median package of £300k in operations. Institutional sales is deemed to be the worst of the best paid roles, possibly due to the proliferation of low touch sales jobs, where you're basically servicing hundreds of different clients at a very high level. 

Curiously, trading jobs aren't in the chart, despite many of them paying more than M&A. Emolument says traders actually rank sixth, with a salary of £190,000 and a bonus of £108,000.

Meanwhile, if you earn £200k and are feeling underpaid by virtue of Emolument's figures, you might want to try benchmarking yourself to a different type of person. - Outside of banking and at the bottom end of the pay scale, Emolument says the median retail sales assistant earns £28k.

Have a confidential story, tip, or comment you’d like to share? Contact:

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Photo by Colin Watts on Unsplash

AUTHORSarah Butcher Global Editor

Apply for jobs

Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Jobs
PER, Private Equity Recruitment
Senior Associate, Growth Stage Purpose-led Investment Platform, London, UK
PER, Private Equity Recruitment
London, United Kingdom