These are the salaries you should now expect as a technologist working in an investment bank

Much like those in the front office, the majority of technologists working investment banks would have enjoyed a hike in base salaries last year in order to mitigate against a reduction in bonus (albeit on a smaller scale).

Not surprisingly, these days, banks are more inclined to cut costs than hand out generous pay rises, and this is reflected in a new salary survey by financial IT recruiters the JM Group.

At the senior end, base salaries have largely remained static, it suggests, while those in analyst and associate roles have seen pay decline by an average of 4%. This is not because banks have slashed salaries, but because those moving jobs are less likely to secure a particularly generous offer.

"When an organisation is unable to develop or promote their staff internally, candidates will now move for less significant salary increases if they can see how it will benefit their long-term career," says Martin Rennison, head of investment banking IT at the JM Group.

If you are moving jobs, of the salary ranges below, it's likely that the bank will try and push for the lower end of the scale.

Source: The JM Group