The best-paying London banks for analysts are American. And Santander
It’s pretty clear that banking analysts have received static bonuses this year compared to last. But in London some banks have been more static than others.
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A new salary and bonus survey from recruitment consultancy Pretraga Partners says that even though banking revenues are rising, bonuses for banking analysts have mostly been the same as last year’s. Compensation as a whole - taking average salaries and bonuses across all analyst classes - ranged between an aveage of roughly £100k ($133k) and £136k ($182k) a year, Stifel aside.
Pretraga says the best-paying banks were the boutiques (such as Lazard and Perella Weinberg Partners) as well as American banks like JPMorgan, and Jefferies. The biggest surprise, however, was Santander.
Santander hasn't traditionally been considered an investment bank in the same tier as European rivals such as Barclays or Deutsche Bank. Recently, however, it's grown - and added names from Credit Suisse this year and last year in the process - as part of the planned expansion of its investment bank that was announced last year. Santander also brought in Credit Suisse juniors who were paid more than the bank's homegrown talent, too.
By comparison, bonuses look low at Morgan Stanley. After a very poor bonus round last year, Morgan Stanley's analysts are still languishing towards the bottom of the compensation pile, despite the firm’s strong performance in the second quarter and indications that revenues will continue to recover.
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