League table of banking pay: 2008

17 February 2009

2 minute read

Wondering why all those people are leaving big houses for boutiques? Here's the answer...

1. Greenhill & Co.:

Average total comp per head: $477k

Headcount: 214 (Dec. '08)

Total compensation expenditure 2008: $102m

2. Lazard

Average total comp per head: $456k

Headcount: 2,474 (Sept. 30th '08)

Total compensation expenditure 2008: $1.1bn

3. Evercore

Average total comp per head: $435k

Headcount: 320 (314 at Sept. 30th '08, six senior bankers added subsequently)

Total compensation expenditure 2008: $139m

4. Goldman Sachs

Average total comp per head: $364k

Headcount: 30,067 (Dec. 08)

Total compensation expenditure 2008: $11bn

5. Deutsche Bank (Corporate and Investment Bank)

Average total comp per head: €257k ($328k)

Headcount: 15,033 (4Q08)

Total compensation expenditure 2008: €3.9bn

5. Credit Suisse (investment bank)

Average total comp per head: CHF364k ($311k)

Headcount: 19,700 (4Q08)

Total compensation expenditure 2008: CHF7.2bn

6. JPMorgan (investment bank)

Average total comp per head: $276k

Headcount: 27,938 (4Q08)

Total compensation expenditure 2008: $7.7bn

7. Morgan Stanley

Average total comp per head: $262k

Headcount: 46,964 (4Q08)

Total compensation expenditure 2008: $12.3bn

8. Merrill Lynch

Average total comp per head: $256k

Headcount: 58,500 (4Q08)

Total compensation expenditure 2008: $15bn

9. UBS

Average total comp per head: CHF245k ($245k)

Headcount: 17,171 (4Q08)

Total compensation expenditure 2008: CHF4.9bn

AUTHORSarah Butcher

Global Editor

i-
i-banker
25 February 2009
Greenhill is a top US advisory firm, which was founded, and taken public by Mr Greenhill - a former Morgan Stanley M&A banker. Yes, you are ignorant.
Reply
Ta
Talent?
21 February 2009
I'm an MD in investment banking at a global ibank which has not been supported by any government and probably doesn't need to. Worked my ass of in '08 (just as in any other year), pulling 80 hours per week on average, virtually no private life/weekends/vacation, doing successfull M&A transactions for my clients, kept the team I run motivated and intact -- and got total comp of USD 650k. I think it is time to resign, enjoy life, earn USD 50k on 40 hours per week and relax...
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MH
MH
19 February 2009
any idea what the numbers are for Barclays, HSBC, BNP, Calyon, Soc Gen
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kp
kps8
18 February 2009
Successful 21:
Which bank are you at then??
Reply
BC
BC
18 February 2009
BODude - it's just getting annoying though. constant attacks by people who don;t even work in banks about stuff they know nothing about or from people in areas where there is no need for quants etc (usually teh places that caused most of the mess in the first place).
Reply