Increasingly, private sector companies are becoming more receptive to the idea of hiring former public sector workersIt is a well-known fact that jobs in the finance sector can pay well; however, as in all industries, finance has its select top-paying roles. Which of these command the highest salaries?
Emolument, a salary benchmarking site, made some comparisons and came up with some interesting results. While analysts’ salaries at entry level across the finance industry are much the same, with an average of £55k, there are some significant differences in pay between roles once they start to climb the career ladder towards the role of a managing director in their chosen field.
Here are some of the highest earning roles in finance, based on the average earnings at managing director level.
Fund manager (managing assets over £5bn)
Although they are responsible for managing funds worth billions, a fund manager is one of the lower-paid roles, with an average salary of £130k to ensure good performance. Combined with an average bonus of £173k, this brings their earnings to an average total of £303k.
Institutional sales in investment banking
Responsible for selling a variety of financial products to other institutions, employees in institutional sales are thought to enjoy less stressful jobs and more reasonable hours than some of their colleagues in other parts of the industry. Their average total earnings are also £303k, broken down into an average salary of £197k and an average bonus of £132k.
Fundraiser for hedge funds and asset managers
Asset managers and hedge funds need fundraisers to help grow the size of the investments they can make. A fundraiser’s average salary is around £150k, with an average bonus of £190k bringing the average earnings up to £340k.
Origination banker
The origination banker is responsible for getting more business for their employers by pitching their banking products to potential clients. The average total earnings of these employees is £500k, comprising an average salary and average bonus of £250k apiece.
Mergers and acquisitions (M&A) banker
A M&A and leveraged finance banker arranges financing for companies, getting involved in some of the biggest deals on record. The average bonus of £340k exceeds the average salary of 230k, which can in part be explained by the huge fees their work brings in, making total average earnings of £570k.
Investment banking trader
Traders in investment banking are responsible for finding buyers and sellers to execute trades in stocks, shares, commodities and every financial product imaginable. Their fast-paced, stressful working hours are rewarded with average total earnings of £602k, £240k of which is the average salary and the remaining £362k representing the average bonus.
Structurer in investment banking
With an average salary of £262k and an average bonus of £391k, bringing their average earnings to a total of £653k, the most lucrative role in finance is that of a structurer in investment banking. Structurers focus on a niche area of investment banking, creating and selling financial products tailored to clients with more complex needs. The large salaries match the experience and expertise needed for the role.
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