Photo: Flickr / joeduty
It’s not all blood and gore on Wall Street — at least, not if you look away from big banks.Most people on the Street got a raise in 2011, especially if they worked at a boutique bank or at an alternative asset management firm, according to an eFinancial Careers survey covered by Bloomberg (via Crain’s NY).
The online survey of 2,860 financial professionals found that 54% received salary increases—excluding bonus—and 40% reported no change from 2010, according to a description of the survey’s findings. Workers at so-called bulge-bracket banks got an average increase of 3%, compared with a 14% gain for people at boutique banks and a 13% raise for those at fund managers.
At big banks, like Goldman and JP Morgan, base salaries increased, but not enough to make up for lower bonuses — so overall, those employees were down for the year. Sorry guys.
Here’s more from the survey:
The survey, conducted Jan. 2 through Feb. 16, found that 12% of respondents were “very satisfied” and 35% were “somewhat satisfied” with their 2011 salaries. Some 37% reported being “very dissatisfied” or “somewhat dissatisfied,” down from 38% a year earlier.
While 35% of respondents said they plan to change firms this year, 55% said that a higher salary would persuade them to stay, according to eFinancialCareers, a unit of New York-based Dice Holdings Inc.
So yeah, what else is new?