Salaries, Bonuses & Earnings

Overall: Salaries 

Overall, on average, Private Banking Salaries are 20% higher than Investment Management.

Overall: Bonuses 

Overall, on average, Private Banking Bonuses are 11% higher than Investment Management.

Overall: Earnings 

Overall, on average, Private Banking Earnings are 17% higher than Investment Management.

Years of Experience

As you would expect in all aspects of remuneration, there is a steady increase which peaks at 16-20 years where earnings are the highest. 

Years of Experience: Salary

Years of Experience: Bonus

Years of Experience: Earnings

Location

The data highlights significant variations in compensation levels based on job positions and locations. The South region generally offers higher salaries compared to the North. However, when it comes to bonuses, the North region stands out with higher average bonuses for all positions, with a particularly substantial bonus of £118,750 for Senior Directors.

In terms of overall earnings, the figures are relatively close, with the South region slightly ahead of the North. However, it's important to note that the North region shows higher earnings for Senior Directors.

Location: Salary

Location: Bonus

Location: Earnings

Gender

There is a notable earnings disparity between male and female respondents. On average, male respondents have higher earnings compared to female respondents. However, it's important to consider that these figures represent an overall average and may not capture the full complexity of the gender pay gap.

Gender: Salary

Gender: Bonus

Gender: Earnings

Ethnicity

The data shows that individuals from the "Mixed/Multiple Ethnic Groups" and "White" categories tend to have higher average earnings and salaries compared to the "Asian/Asian British" and "Black/African/Caribbean/Black British" categories. Respondents from "Mixed/Multiple Ethnic Groups also receive the highest average bonuses.

Ethnicity: Salary

Ethnicity: Bonus

Ethnicity: Earnings

Bonuses

The majority of the respondents are eligible for a bonus:

Bonus: Averages

Bonus: Calculations

Discretionary bonus is the most popular, followed by KPI/Balanced Scorecard.

Pensions 

The average pension contribution is 8% across both investment management and private banking, with the average being higher for private banking at 9.7%. 

Qualifications 

The respondents' qualifications are distributed as follows:

Qualifications: IM

Qualifications: PB

Qualifications: Salary

We can see below that Chartered status has a material impact on salary for investment management respondents, but not for private banking. 