2016 was a particularly turbulent year for the financial markets. Beginning with a freefall in Chinese Equities which sent the investment world into panic mode, June brought the unexpected vote for Brexit and the year has ended with the election of Donald Trump as President of the United States. Accordingly, reflecting the world in which they operate, the financial markets have been decisively difficult to read, albeit immensely profitable for some.
Unsurprisingly, the financial recruitment markets have mirrored the erratic behaviour seen in the markets they service – perhaps exacerbated by the impeding regulatory change in the banking sector, which, it seems, no one is yet in a position to fully understand.
2016 saw a notable spike in candidates being hired and made redundant in the same year, as well as hiring processes dematerialising shortly before their conclusion – often many months after they had begun.
‘Restructuring’ was the phrase of the year; with many banks in a constant state of change, many employees growing frustrated at the uncertainty they face and their continued inability to perform their functions as they would like.
The below provides an overview of the current salaries paid in London (including ‘top-ups’), the bonuses people received last year and the bonuses people expect to receive this year. Each of the numbers below is approximate, they are all in GBP and the bonus information disregards candidates who did not receive a bonus and those from Investment Banks which are able to pay employees bonuses in excess of the 100-200% cap employed elsewhere.
Download the full FIFX & Equities: End of Year Report & Salary Survey 2017 here: http://phaidoninternational.com/industry-insights/fifx-and-equities-2017/NEWS ARCHIVE