Now that a big guaranteed bonus is probably out of the question, bankers in London are settling for a new type of trinket as an expression of their prestige: a parking space.
'The parking space is a massive status symbol,' the head of recruitment at one American bank in the City told us. 'I’ve had a lot of conversations about them recently – parking is incredibly important to some people.'
eFinancial Careers reports that parking spaces in London banks are bestowed with special cachet by their rarity value.
Goldman Sachs’ Jersey City office reportedly has 1,231 parking spaces. By comparison, Goldman’s London Peterborough Court office has a mere 30 parking spaces, according to the building’s plans.
Headhunters say parking spaces can be an important component of pay negotiations when bankers are changing jobs. 'The more senior you are, the more likely it is that you will get a space,' said a partner at one search boutique, speaking on condition of anonymity.
Another headhunter said candidates have refused new positions unless parking spaces are granted.
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