Middle Office MD salary
Hi guys,
I M just wondering what salaries for an MD in the Middle Office of a bulge bracket bank are likely to look like? What does the progression look like? I am based in the UK, so London salaries would be preferable. I work in Product Control, in a very finance-centric role, rather than accounting-based.
Might want to ask in the Off topic forum
This isn't off topic
Does Product Control come under Risk?
Often it does. It’s typically considered MO.
Worked in derivatives clearing for JPM as an AN1 in 2022/23 and was clearing £32k + 10% bonus. Far from MD but if you extrapolate the 50% discount to base salary vs front office and assume that bonus gets slightly bigger as % over time but I don’t see it going above 20-30%.
Also, worth noting that it’s not uncommon to see people staying for decades at the same level without being promoted or pushed out. BO is a completely different beast than the FO stuff we’re used to.
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