Вы находитесь на странице: 1из 51

SEARCH

SALARY SURVEY
2011
BBM Search is pleased to announce the results of its 2011 salary survey.

We have a close relationship with a wide range of clients including international investment banks, boutique advisory houses,
brokerage firms and independent research companies. We specialise in the following financial products:

Mergers & Acquisitions/Advisory Equity Capital Markets Debt Capital Markets


Equity Sales Debt Project/Structured Finance
Private Equity/Venture Capital Commodities Business Support Services

And in the following locations: London Moscow Frankfurt Hong Kong

The last year has seen a dramatic change in fortunes for those working in the global financial markets. Of all respondents,
80% considered that 2011 would see an improvement in their career prospects, and 75% felt secure in their job. Just 1%
thought this year would be worse for their career, and only 2% feared losing their job. 25% had moved jobs this year and a
significant 40% planned to do so in the next 12 months. The main drivers were an increase in remuneration (73%), a step up
in responsibility (48%). Also, a surprisingly large number (37%) were looking for a better work/life balance.

The post global crisis boom was made clear by the fact that 58% of respondents teams had grown in size, and 40% had
needed to increase the salaries offered to hire. Of those moving, 20% received a guaranteed bonus, 18% a signing-on bonus
and 5% received stock. A fifth of new employees had a pay rise of between 10-20%, and a third increased their base salary by
over 20%.

Stephen J McCarty
Managing Partner

Our questionnaire was sent to over 7,000 professionals during March 2011, and using the data from more than 1,300 respondents, 3,000 registered candidates,
and over 500 vacancies registered over the last 12 months we have created the most comprehensive survey of its kind. The success of a few of our respondents
(in terms of basic salary) had led to some erratic spikes in the charts, so we have not included the results of those lucky enough/good enough to fall outside of
our tables as it made the results less easy to interpret. We have some unpublished data at this level which we would be happy to share upon request.
SEARCH
SALARY SURVEY
2011
TABLE OF CONTENTS Page

You and Your Team................................................................................................................. 3


Your Future ............................................................................................................................... 9
Investment Banking - Mining & Metals ......................................................................... 13
Investment Banking - Oil/Gas/Energy/Utilities........................................................... 16
Investment Banking - Alternatives/Renewables/Biotech ....................................... 19
Investment Banking - FIG ................................................................................................... 22
Investment Banking - TMT ................................................................................................. 25
Investment Banking - Infrastructure/Property/Transport ..................................... 28
Investment Banking - Industrials .................................................................................... 31
Investment Banking - Healthcare/Pharma/Chemicals............................................. 34
Investment Banking - Support Services/Retail/Generalist..................................... 37
Debt - DCM ............................................................................................................................. 40
Debt - Structured/Project Finance ................................................................................. 41
Hong Kong .............................................................................................................................. 42
Moscow .................................................................................................................................... 44
Germany .................................................................................................................................. 48
Business Support Services ................................................................................................ 50
Contacts.................................................................................................................................... 51
SEARCH
You & Your Team

Have you changed jobs in the last 12 months?

Yes 
No
26%

38%
74% 52%

10%
SEARCH
You & Your Team

Are you intending to move jobs


in the next 12 months?

Yes 
No

41%

38%
59%
52%

10%
SEARCH
You & Your Team

How would you describe your feeling of job security?

1%
My job is safe
I am unsure of my long term future
25% I fear redundancy

38%
52%
74%

10%
SEARCH
You & Your Team

What has happened to the size of your team


in the last 12 months?

12% Grown
Stayed the same size
Reduced

38%
29% 59%

52%

10%
SEARCH
You & Your Team

In the past 12 months, the quality of the candidates


we have interviewed has...

12% Improved
20% Stayed the same
Reduced

38%
52%
68%

10%
SEARCH
You & Your Team

To attract candidates,
the value of the packages offered...

3%
Increased
Stayed the same
Decreased
39%

38%
58%

52%

10%
SEARCH
Your Future

If you moved position in 2010, did you receive...


(more than one ticked)

A guaranteed bonus 
A signing on bonus
Stock 
A basic pay rise of 0% - 10% 
A basic pay rise of 10% - 20% 
A basic pay rise of over 20%

0 10 20 30 40 %
SEARCH
Your Future

What are your motivating factors


in considering opportunities?

An increase in compensation 
A better work/life balance
A step-up in title and position 
A different industry 
A move abroad 
Other

0 10 20 30 40 50 60 70 80 %
SEARCH
Your Future

I think my career in 2011 will...

Improve
Stay the same
Decline
SEARCH
Your Future

If you are based in UK, has the current tax / political /


social attitude towards high earners made you
consider relocating?

More likely to leave the UK


No effect
Would never leave the UK
Investment Banking Oil/Gas/Energy/UtilitiesMining and Metals
SEARCH
Research

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

SEARCH
Investment Banking Mining and Metals
SEARCH
Corporate Finance

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

SEARCH
Investment Banking Mining and Metals
SEARCH
Sales

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

SEARCH
Investment Banking Oil/Gas/Energy/Utilities
SEARCH
Research

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

SEARCH
Investment Banking Oil/Gas/Energy/Utilities
SEARCH
Corporate Finance

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

SEARCH
Investment Banking Oil/Gas/Energy/Utilities
SEARCH
Sales

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

SEARCH
Investment Banking Alternatives/Renewables/BioTech
SEARCH
Research

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2009
2010
2011
Associate (3 – 7yrs)
2009
2010
2011
VP/AD (7 – 10yrs)
2009
2010
2011
Director (10yrs+)
2009
2010
2011

SEARCH
Investment Banking Alternatives/Renewables/BioTech
SEARCH
Corporate Finance

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Alternatives/Renewables/BioTech
SEARCH
Sales

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking FIG
SEARCH
Research

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking FIG
SEARCH
Corporate Finance

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking FIG
SEARCH
Sales

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Telecoms/Media/Technology
SEARCH
Research

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Telecoms/Media/Technology
SEARCH
Corporate Finance

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Telecoms/Media/Technology
SEARCH
Sales

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Infrastructure/Property/Transport
SEARCH
Research

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Infrastructure/Property/Transport
SEARCH
Corporate Finance

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Infrastructure/Property/Transport
SEARCH
Sales

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Industrials
SEARCH
Research

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Industrials
SEARCH
Corporate Finance

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Industrials
SEARCH
Sales

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Healthcare/Pharmaceuticals/Chemicals
SEARCH
Research

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Healthcare/Pharmaceuticals/Chemicals
SEARCH
Corporate Finance

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Healthcare/Pharmaceuticals/Chemicals
SEARCH
Sales

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Support Services/Retail/Generalist
SEARCH
Research

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Support Services/Retail/Generalist
SEARCH
Corporate Finance

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

SEARCH
Investment Banking Support Services/Retail/Generalist
SEARCH
Sales

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)
2010
2011

Associate (3 – 7yrs)
2010
2011

VP/AD (7 – 10yrs)
2010
2011

Director (10yrs+)
2010
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)

2011

Associate (3 – 7yrs)

2011

VP/AD (7 – 10yrs)

2011

Director (10yrs+)

2011

SEARCH
Debt
SEARCH
Debt Capital Markets (Corporate & SSA)

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)

2011

Associate (3 – 7yrs)

2011

VP/AD (7 – 10yrs)

2011

Director (10yrs+)

2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)

2011

Associate (3 – 7yrs)

2011

VP/AD (7 – 10yrs)

2011

Director (10yrs+)

2011

SEARCH
Debt
SEARCH
Structured/Project Finance

Basic Salary £’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
Analyst (0 – 3yrs)

2011

Associate (3 – 7yrs)

2011

VP/AD (7 – 10yrs)

2011

Director (10yrs+)

2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)

2011

Associate (3 – 7yrs)

2011

VP/AD (7 – 10yrs)

2011

Director (10yrs+)

2011

SEARCH
Hong Kong
SEARCH
Corporate Finance

Basic Salary HKD000 0 200 400 600 800 1000 1200 1400 1600 1800 2000 2200 2400 2600 2800 3000 3200
Analyst (0 – 3yrs)
2011

Associate (3 – 7yrs)
2011

VP/AD (7 – 10yrs)
2011

Director (10yrs+)
2011

MD (10yrs+)
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2011

Associate (3 – 7yrs)
2011

VP/AD (7 – 10yrs)
2011

Director (10yrs+)
2011

MD (10yrs+)
2011

There has been huge growth within the Emerging Markets. China, India and Indonesia have shown rapid development, and subsequently there has been a demand for high
quality candidates. There is a strong need for talent in all sectors, but especially within Financial Services. A number of new entrants have come to market in Asia, and in time we
shall see which of these institutions manage to make a footprint in the region. Investment Baning, Private Equity, Equity Research and Sales and Trading have demonstrated a
SEARCH
thirst for international applicants with specific skill sets, in particular within the Natural Resources sectors. Overall, Asia is continuing to expand at a phenomenal rate attracting
top candidates on a global basis.These numbers are based on compensation figures in Hong Kong in 2009 and are quoted in HKD.
Hong Kong
SEARCH
Equity Research

Basic Salary HKD000 0 200 400 600 800 1000 1200 1400 1600 1800 2000 2200 2400 2600 2800 3000 3200
Analyst (0 – 3yrs)
2011

Associate (3 – 7yrs)
2011

VP/AD (7 – 10yrs)
2011

Director (10yrs+)
2011

MD (10yrs+)
2011

Bonus % 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst (0 – 3yrs)
2011

Associate (3 – 7yrs)
2011

VP/AD (7 – 10yrs)
2011

Director (10yrs+)
2011

MD (10yrs+)
2011

There has been huge growth within the Emerging Markets. China, India and Indonesia have shown rapid development, and subsequently there has been a demand for high
quality candidates. There is a strong need for talent in all sectors, but especially within Financial Services. A number of new entrants have come to market in Asia, and in time we
shall see which of these institutions manage to make a footprint in the region. Investment Banking, Private Equity, Equity Research and Sales and Trading have demonstrated a
SEARCH
thirst for international applicants with specific skill sets, in particular within the Natural Resources sectors. Overall, Asia is continuing to expand at a phenomenal rate attracting
top candidates on a global basis.
These numbers are based on compensation figures in Hong Kong in 2009 and are quoted in HKD.
Moscow
SEARCH
Corporate Finance

Basic Salary RUR ‘000 0 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800
Analyst (0 – 3yrs)
2011

Associate (3 – 7yrs)
2011

VP/AD (7 – 10yrs)
2011

Director (10yrs+)
2011

MD (10yrs+)
2011

Bonus % 0 40 80 120 160 200 240 280 320 360 400 440 480 520 560 600
Analyst (0 – 3yrs)
2011

Associate (3 – 7yrs)
2011

VP/AD (7 – 10yrs)
2011

Director (10yrs+)
2011

MD (10yrs+)
2011

The Russian economy remains stable, and is steadily growing due to the natural resources sectors, primarily oil, and the liquidity within the banks. Institutions have been hiring
across all levels within the financial services sectors; this is due to expectations of market growth in 2011, especially within the anticipated privatisation of national public
companies.
SEARCH
These numbers are based on compensation figures in Russia in 2009 and are quoted in RUR.
Moscow
SEARCH
Equity Sales and Trading

Basic Salary RUR ‘000 0 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800
Analyst (0 – 3yrs)
2011

Associate (3 – 7yrs)
2011

VP/AD (7 – 10yrs)
2011

Director (10yrs+)
2011

MD (10yrs+)
2011

Bonus % 0 40 80 120 160 200 240 280 320 360 400 440 480 520 560 600
Analyst (0 – 3yrs)
2011

Associate (3 – 7yrs)
2011

VP/AD (7 – 10yrs)
2011

Director (10yrs+)
2011

MD (10yrs+)
2011

The Russian economy remains stable, and is steadily growing due to the natural resources sectors, primarily oil, and the liquidity within the banks. Institutions have been hiring
across all levels within the financial services sectors; this is due to expectations of market growth in 2011, especially within the anticipated privatisation of national public
companies.
SEARCH
These numbers are based on compensation figures in Russia in 2009 and are quoted in RUR.
Moscow
SEARCH
Equity Research

Basic Salary RUR ‘000 0 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800
Analyst (0 – 3yrs)
2011

Associate (3 – 7yrs)
2011

VP/AD (7 – 10yrs)
2011

Director (10yrs+)
2011

MD (10yrs+)
2011

Bonus % 0 40 80 120 160 200 240 280 320 360 400 440 480 520 560 600
Analyst (0 – 3yrs)
2011

Associate (3 – 7yrs)
2011

VP/AD (7 – 10yrs)
2011

Director (10yrs+)
2011

MD (10yrs+)
2011

The Russian economy remains stable, and is steadily growing due to the natural resources sectors, primarily oil, and the liquidity within the banks. Institutions have been hiring
across all levels within the financial services sectors; this is due to expectations of market growth in 2011, especially within the anticipated privatisation of national public
companies.
SEARCH
These numbers are based on compensation figures in Russia in 2009 and are quoted in RUR.
Moscow
SEARCH
Private Equity

Basic Salary RUR’000 0 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800
Partner

2011

Senior Portfolio Manager

2011

Portfolio Manager

2011

Portfolio/Investment Analyst

2011

Bonus % 0 40 80 120 160 200 240 280 320 360 400 440 480 520 560 600
Partner

2011

Senior Portfolio Manager

2011

Portfolio Manager

2011

Portfolio/Investment Analyst

2011

The Russian economy remains stable, and is steadily growing due to the natural resources sectors, primarily oil, and the liquidity within the banks. Institutions have been hiring
across all levels within the financial services sectors; this is due to expectations of market growth in 2011, especially within the anticipated privatisation of national public
companies.
SEARCH
These numbers are based on compensation figures in Russia in 2009 and are quoted in RUR.
Germany
SEARCH
Investment Banking

Basic Salary €’000 0 15 30 45 60 75 90 105 120 135 150 165 180 195 210 225 240
Analyst (0 – 3yrs)

2011

Associate (3 – 7yrs)

2011

VP/AD (7 – 10yrs)

2011

Director (10yrs+)

2011

Bonus % 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320
Analyst (0 – 3yrs)

2011

Associate (3 – 7yrs)

2011

VP/AD (7 – 10yrs)

2011

Director (10yrs+)

2011

Following the crisis year of 2009, the German economy experienced a strong economic recovery in 2010. There has been a strong upturn in the market, and increase in volumes
of deals within Investment Banking and Private Equity in Germany. To date, there have been 45 noted Private Equity transactions which is a result of pressure to invest as well as
sell. There are also a number of strategic buyers from Asia such as India and China looking at Technology opportunities. Investment Banks and Private Equity firms have been
SEARCH
steadily hiring over the last 12 months. Overall compensation has improved by approximately 10-20%. Overall, there is a conservative confidence that is growing in Germany.

These numbers are based on compensation figures in Germany in 2010 and are quoted in Euros.
Germany
SEARCH
Private Equity

Basic Salary €’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160

Analyst
2010

Investment Manager
2010

Bonus €’000 0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160


Analyst
2010

Investment Manager
2010

Following the crisis year of 2009, the German economy experienced a strong economic recovery in 2010. There has been a strong upturn in the market, and increase in volumes
of deals within Investment Banking and Private Equity in Germany. To date, there have been 45 noted Private Equity transactions which is a result of pressure to invest as well as
sell. There are also a number of strategic buyers from Asia such as India and China looking at Technology opportunities. Investment Banks and Private Equity firms have been
SEARCH
steadily hiring over the last 12 months. Overall compensation has improved by approximately 10-20%. Overall, there is a conservative confidence that is growing in Germany.

These numbers are based on compensation figures in Germany in 2010 and are quoted in Euros.
Support Services
SEARCH
PAs, EAs, Roadshow Coordinators & IR

(£’000) Low Average High Average Bonus


2010 2011 2010 2011 2010 2011 2010 2011

Executive Assistant 35 35 41 41 52 52 28% 28%


Office Manager 32 32 36 36 44 44 21% 21%
Team PA/Desk Assistant 27 27 32 32 40 40 26% 26%
Senior Administrator 23 23 28 28 32 32 15% 15%
Bilingual Secretary 25 25 31 31 36 36 20% 20%
Junior Secretary 23 23 24 24 27 27 15% 15%
Administrator 20 20 23 23 25 25 11% 11%
Receptionist 21 21 25 25 28 28 12% 12%
Roadshow Manager 42 42 51 51 65 80 41% 41%
Roadshow Coordinator 28 28 38 38 45 50 33% 33%
Roadshow PA 24 24 28 28 31 31 28% 28%
Investor Relations Manager 48 48 62 62 85 85 45% 45%
Investor Relations Coordinator 32 32 40 40 48 48 35% 35%
Investor Relations Support 25 25 27 27 31 31 22% 22%
SEARCH SALARY SURVEY 2011

For further information or to discuss the results of our survey, please contact

Stephen McCarty Investment Banking stephen@bbmearch.com

Louisa Booth Equity Research louisa@bbmsearch.com

Nicola Jennings Debt nicola@bbmsearch.com

Julian Skipwith International julian@bbmsearch.com

Emily Beaumont Business Support Services emily@bbmsearch.com

Designed and Produced by Quadsite Limited. www.quadsite.com