Do MDs in London make the same comp as New York?
Just curious. I know juniors made a significant discount to NYC in London. I was just wondering if it is the same for MDs too, and if so, why do they not go to New York?
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Did you seriously just ask why don’t senior people uproot their whole family, livelihood forego cultural differences to move to a new country merely for higher comp? I’ve really seen it all here on wso smh man
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I know one MD in S&T who did (twice actually), so I wouldn't say it's such an out-there question.
Pre-2008, very comparable. Post-2008, London MDs make less than their NY MD counterparts at most banks. Source: Know a BB MD whose been in London since the early 2000s after making MD in NY a few years prior to the move.
Do you know about within the US? Like NYC/SF vs Chicago/LA?
2 points on this topic:
IB fees are lower in Europe. US corporates pay better. UK probably higher than Germany / France, themselves higher than Italy / Spain. If fee level in US is based at 100, Italy could be around 20-30 with France around 50. Source: senior banker.
So far I have benchmarked MD comp at $1.5m in the US and $1.1-1.2m in UK (£800-900k). Source: press articles / conversations with bankers.
Anybody has a few data points to add?
IB salaries are way higher in France than in the UK
I work in the US and not France so I can afford more Louis Vuitton purses... ironic how that works out
BB / Roth / L people in Paris earn way more than you do lol
My only question here would be is the higher salary purely at junior levels, where the comps are meant to be equal but obviously due to the recent currency changes are not, or are you including the more senior roles also?
I can believe that UK salaries are higher, given this would usually be the central office within EMEA for all banks vs. Paris, but obviously that is only an opinion and not something I know first hand.
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