Stars get increased bonuses

Top sales and trading staff in credit and equity departments can expect increased bonuses of up to 30% this year, while more junior employees are likely to be disappointed with their pay, according to Longbridge, the headhunter.

In a survey of more than 25 banks, Longbridge found salaries of managing directors in credit sales range between 100,000 (€144,000) and 150,000. Bonuses for this year are likely to be between 300% and 750% of base pay.

Last year, the upper limit was 600%, Longbridge said.

Other credit sales staff will fare less well. Vice-presidents can expect a bonus of between 100% and 200%, the same as last year. Their salaries range from 75,000 to 90,000. Longbridge found directors in credit sales were likely to receive static bonuses of between 200% and 500% on base pay between 90,000 and 110,000.

Clare Harris, head of fixed income at Longbridge, said some credit sales staff would be disappointed by this year's bonuses. "Heavy-hitters will be paid well, but like last year, banks will be selective about who they give high bonuses to. It's a question of how important you are to the bank."

In a separate survey of eight banks, Longbridge found that managing directors in equity sales and trading, who last year received compensation averaging $1m (€834,000), can this year expect about $1.3m.