In the high paying world of finance not all jobs are created equal, but regardless of what job you’ve got, if you’re working in the sector, you can expect a pretty substantial pay packet.
According to new data released by salary benchmarking site Emolument, even the worst paying roles in the City of London can still end up earning you £104,000 per year, nearly four times the average UK salary.
Employees in the financial sector described by Emolument as ‘middle and back office generalists’ — essentially the people who ensure that operations in banks, brokerages, and funds keep working smoothly — earn £104,000 when they reach the director level. The average remuneration at this level is a £88,000 salary, topped up with a £16,000 bonus.
At the other end of the spectrum, the best-paid workers in Britain’s financial sector are those working for banks in mergers and acquisitions — long seen as the most glamorous, and exciting part of the banking — who earn an average of £326,000 per year once they reach the director level. That is composed of a £178,000 salary, and a bonus of £148,000.
In return, M&A bankers can expect punishingly long hours and little balance in their lives. As Emolument points out, for those working in M&A “projects tend to last weeks or months with 24/7 working hours.”
Other jobs near the top of the pay scale include trading, syndication, and institutional sales. Take a look at the chart of best paid finance jobs below:
Commenting on the results of Emolument’s pay survey, Alice Leguay, the company’s COO and co-founder says in a release:
While remuneration in banking, is not what it used to be, it remains the highest paying sector. Senior bankers who have been accustomed to a plush standard of living through a career of earning sky-high bonuses are often trapped in the industry, both burning through their revenue to cover household costs, and not making the fortunes they were aiming for 10 years ago.
NOW WATCH: We tested an economic theory by trying to buy people’s lottery tickets for much more than they paid
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.