London’s Fund Manager Bonuses Top Zurich, Emolument ShowsSarah Jones
Bonuses for London’s senior fund managers are as much as 55 percent higher than those paid at Zurich-based investment firms, compensation data provider Emolument reported.
The average bonus for a vice president at a London-based asset manager is $42,000 versus $27,000 in Zurich, Emolument said in a statement today. Bonuses for employees at director level are 56 percent higher in the U.K. and 13 percent higher for managing directors.
The data comes as regulators move to curb bonuses paid in Europe to prevent a repeat of the risk taking that helped sparked the 2008 financial crisis. Earlier this week Prudential Plc, which owns M&G Investments, reported that one of its employees was paid at least 17.4 million pounds ($28.9 million) in 2013.
Swiss firms instead compensate their employees with higher base salaries, the data show. Employees at an analyst or associate level stand to earn 50 percent to 70 percent more in Zurich than in London. The pay gap narrows for more senior employees to 22 percent to 28 percent higher.
Emolument, based in London, said it examined 2013-2014 salary and bonus data from 1,423 London and Zurich asset and wealth-management employees.