League table of compensation by bank for the first 9 months of '09

Below you will find a league of investment banking compensation per head, by bank, for the first nine months of 2009.

Needless to say, these figures are flawed: needless to say, they say nothing about the distribution of the compensation pool at each bank; needless to say some people will receive plenty more, others will receive plenty less.

However, they do indicate, roughly, how generous each bank is likely to be this year, and the extent to which that generosity eclipses, or pales in comparison to, last year's.

Notable points include the (predictable) generosity of Goldman Sachs; the comparative generosity of Deutsche and Credit Suisse; and the parsimony of UBS and Morgan Stanley. Morgan Stanley's figures are skewed by the fact that they cover both investment bankers and asset managers, and we can only assume that asset managers are paid a lot less.

1) Goldman Sachs

Mean compensation per head for first nine months of 2009: $527,192

Percentage change on 2008: + 74%

2) Deutsche Bank

Mean compensation per head for first nine months of 2009: $426,127

Percentage change on 2008: + 46%

*Corporate and investment bank only.

3) Credit Suisse

Mean compensation per head for first nine months of 2009: $393,212

Percentage change on 2008: + 54%

*Investment bank only

4) JP Morgan

Mean compensation per head for first nine months of 2009: $353,834

Percentage change on 2008: + 68%

*Investment bank only

5) UBS

Mean compensation per head for first nine months of 2009: $274,980

Percentage change on 2008: + 22%

*Investment bank only

6) Morgan Stanley

Mean compensation per head for first nine months of 2009: $153,271

Percentage change on 2008: -32%

*Investment bank and asset management business