Investment bankers in London are earning up to 20pc more this year when compared to 2009, says a new survey released today.
The survey, conducted by financial services recruitment company Astbury Marsden, found the average basic salary for investment banking staff in London has risen 20pc in the last year.
It is thought that companies are trying to offset the curbing of bonuses with higher year-round salaries. Pressure continues to mount on firms to stop paying high end-of-year bonuses.
Back, middle and front level staff will earn about Ł97,500 this year, up from Ł81,250 last year.
Many top performers will also receive mega bonus payments, despite the continued criticism from the public and authorities.
HSBC and Barclays told Reuters they had to keep competitive salaries to hold onto top staff.
Another survey released earlier this week showed that London’s accountants are also expected to receive higher bonuses this year.