Do you work in M&A or capital markets in Hong Kong? Are you looking to see how your investment banking salary and bonus stack up to help you decide whether you might be better off at another firm?
We’ve averaged out Hong Kong investment banking salary surveys from six recruitment agencies to produce the table below, which shows minimum and maximum base pay ranges from analyst to managing director (MD) level.
Although directors and MDs remain well paid in Hong Kong investment banking – even newly minted directors earn HK$1,870k ($240k) on average – they have not enjoyed significant salary rises over the past 12 months.
“The experienced people are now facing the toughest pay squeeze as some banks in Hong Kong have implemented pay freezes for their bankers at this level,” says Jason Ne Win, principal consultant, front office, at recruitment firm Selby Jennings in Hong Kong.
The drive to hire more junior investment bankers has also helped to push down senior pay. “Those above VP are facing a tough time as younger, hungrier and cheaper alternatives are available in greater quantity,” says Ne Win.
Whatever the seniority level, US firms in Hong Kong tend to pay investment banking salaries towards the top end of the ranges in the table above.
“Compensation at the bulge bracket American banks is higher than at their European or regional counterparts, although some Chinese banks are pushing their pay boundaries to make senior hires from international banks,” says Ne Win.
Investment banking bonuses in Hong Kong
As we noted earlier this year, investment banking bonuses in Hong Kong were generally poor for 2015, with an increased number of people not receiving any sort of payment.
For Hong Kong bankers that did receive a bonus, however, the table above also shows the average bonus range (as a percentage of salary) across five levels of seniority.
“Total compensation in Hong Kong investment banking is more or less flat now compared to 2015 because base pay increases last year have been balanced out by smaller bonuses,” says Ne Win.NEWS ARCHIVE