And the best place to be is....
The findings reveal that:
• Asia pays the highest bonuses
• London is the top paying European city
• Zurich pays well overall but shows conservative pay structure with total comp mainly skewed towards based salary rather than bonuses (bonuses only 43% of base salary)
• Singapore bonuses represent 110% of basic salary vs 106% in NYC and 24% in Amsterdam
• Base salaries seemed to be widely indexed on cost of living with Sydney, London, Hong Kong and Singapore being some of the most expensive cities in the world for rent
• European locations seem to be gearing up for EU bonus cap regulations with low bonuses/salaries ratios
• Asia is making a push for senior banking talent with a strongly incentivised pay structure
Robert Benson, CEO, Emolument.com said, 'With recent European tax rate changes and bonus cap rules due to be implemented, Asia and the Middle East attract bankers looking for strong financial incentives. This is likely to be an issue in the medium term for large international banks looking to spread their executives globally and coming up against their employees’ requests for specific geographical postings'.