Banking & Financial Services Salary Survey - Hudson

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2011 salary guide CORPORATE FINANCE/ADVISORY There was a real appetite in demand for execution experience in Q1 within M&A and corporate finance. There was a strong deal flow in the market with many private equity and corporate firms taking advantage of the improved market conditions thus increasing the demand for advisory corporate finance. As with every economic down turn you see a slow down in the hiring at the junior level. This 18 month reduction in hiring at the lower level has now resulted in a deficit of candidates with execution and transactions experience. We are now seeing a real shortage of talent at the analyst three and associate one level both within top tier banks and smaller boutiques. We have still seen a significant difference in the base salary between the bulge bracket banks and boutique corporate finance houses. The increased base within the bulge brackets is making hiring out of these institutions increasingly difficult for mid-market houses. Historically you would find a mix of ex-bankers and accountants within these firms. Currently boutiques are being forced to rely more heavily on professional services advisory corporate finance teams to add to their ranks. The ECM (Equity Capital Markets) market has also significantly increased its demand for candidates. Many companies held off from listing over the past couple of years. Consequently candidates are needed at the associate director level with experience in dealing with organisations and their corporate finance needs. Bonuses have been mixed. Some bulge bracket bankers have had bonuses ranging between the 40-100% mark with boutiques ranging from 30 -200%. On the whole the boutique bankers seem to be the happier. As a general rule the market is candidate scarce with experienced deal practitioners finding themselves with plenty of opportunities. The private equity market is still slow on the hiring front. We have again seen an increase in the demand for execution experience at the analyst level. However the market seems slow with many houses struggling to raise funds due to the high price of debt. Candidates that are in demand are those that can bring both transactional and strategic experience to the table often having done stints with top tier investment banks and strategy houses. We do envisage more hiring within the private equity space later in the year if market confidence continues to return. 8 Banking & Financial Services | Salary Guide 2011
2011 salary guide CORPORATE FINANCE/ADVISORY Permanent Permanent BOUTIQUE 0-2 YEARS' EXPERIENCE (£) INTERNAL M&A 0-2 YEARS' EXPERIENCE (£) Director 100,000 - 150,000 Director 120,000 - 150000 Associate Director 75,000 - 100,000 Associate Director 75,000 - 100,000 Associate 3 65,000 - 75,000 Associate 3 65,000 - 75,000 Associate 2 60,000 - 65,000 Associate 2 60,000 - 65,000 Associate 1 55,000 - 60,000 Associate 1 55,000 - 60,000 Analyst 3 45,000 - 50,000 Analyst 3 45,000 - 50,000 Analyst 2 40,000 - 55,000 Analyst 2 40,000 - 55,000 Analyst 1 30,000 - 40,000 Analyst 1 30,000 - 40,000 INVESTMENT BANK Director 150,000 - 200,000 Associate Director 100,000 - 130,000 Associate 3 90,000 - 100,000 Associate 2 80,000 - 90,000 Associate 1 70,000 - 80,000 Analyst 3 60,000 - 70,000 Analyst 2 55,000 - 65,000 Analyst 1 50,000 - 60,000 London Banking & Financial Services | Salary Guide 2011 9
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Banking & Financial Services Salary Survey - Hudson

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