Here's That New Survey About Bankers Being Upset Because They're Underpaid

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For some it seems inconceivable that, after the financial crisis, Wall Street bankers would expect their compensation to return to what it was before the crash.

To investment bankers, though, the fact that it hasn’t is becoming more and more frustrating.

That was the subject of a much buzzed-about Telegraph story this morning headlined, “It’s so unfair, say ‘underpaid’ bankers.”

The story was based on a report by financial services recruiting firm Selby Jennings. In it more than 67.2 per cent of bankers responded that they think they should be better compensated.

We wanted to see what was actually in the report, so we tracked it down.

Selby Jennings surveyed over 600 bankers across all levels of employment in Singapore, Hong Kong, NYC and London to get their thoughts on compensation.

What the firm found was that some cities (London and Singapore) are doing better than others (Hong Kong and NYC). The world over, however, the global economy is leaving Wall Street bankers behind as bonuses remain flat for the most part.

And that’s if you get a bonus at all. Over the past two years almost a quarter of the world’s bankers haven’t.

Most bankers make between $50,000 and $150,000.

Almost a quarter of bankers didn't get a bonus last year, globally.

That number increased slightly this year.

Most London bankers are paid a base salary between 50,000 and 100,000 GBP.

And bonuses have been mostly flat for the past two years there too.

With just under 20% receiving a bonus at all in 2012 and 2013.

In NYC, base salaries above $200,000 have seriously dropped off.

And for the past two years over 20% of bankers didn't get a bonus.

That makes NYC the worst compensated city in this survey.

In Singapore base salaries are lower.

Buf if you are fortunate enough to get a bonus.

They have been trending up substantially in the last year.

Hong Kong has the most bankers with fat base salaries between $300,000 and $350,000.

But the bonus situation is worse than NYC.

Since over the last year the number of bankers who got nothing doubled.

Maybe bankers should be pumped that their pay is low, though...

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