London boasts the highest pay in Europe for vice-presidents working in asset management, due to its culture of providing bonuses as rewards to incentivise staff.
While Geneva pays the greatest base salary in the industry, which at £114,000 (€143,600) is 23% higher than London’s, the UK capital’s bonuses are almost three times greater than Geneva’s, weighing in at £53,000.
This boosts London’s total pay figure to £141,000 – £9,000 more than the total in the Swiss capital, which is in second place.
The research from salary benchmarking site, Emolument.com, finds Zurich in third place with total pay at £124,000, followed by Amsterdam and Paris, which both offer £104,000.
The survey of top paying cities in asset management examined bonus data from 322 vice presidents working in front-office roles across Europe.
Thomas Drewry, chief executive officer at Emolument.com, says: “At [vice-president] level, relocation is particularly topical: with a good few years’ professional experience, no expensive managerial responsibilities, and lite family structures, [vice-presidents] can easily be grafted onto a new team in a new location.”
London’s fund management industry also received good news in October this year, when research from TheCityUK found a 4.5% increase in employment between the start of January and June 2014.
©2014 funds europe
