A sign that Europe's bankers are horribly impoverished compared to the rest
You wouldn't want to be a banker in Europe, the Middle East and Africa (EMEA). If you're in London, the weather's variable, the property's expensive and - in commercial banking at least - the pay is lower than standards at the Daily Mail.
Exclusive figures from financial analysis company Tricumen suggest that in the first six months of 2013, corporate bankers in EMEA were on track to earn a lot less than their colleagues in the Americas and Asia.
Tricumen's analysis suggests that annualized 6m 2013 salaries and bonuses per head in cash management and trade finance were:
- $90k in EMEA
- $141k in the Americas
- $138k in Asia Pacific (APAC)
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Why were EMEA commercial bankers so comparatively poor? Blame it bonuses. Salaries for commercial bankers are higher in EMEA than elsewhere, said Tricumen. The problem is that bonuses are lower.
Tricumen said pay in the Americas is being boosted by generous bonuses in Latin America. Pay in APAC is reportedly being boosted by generous compensation to bankers brought in from outside the region. Locally recruited staff are paid a lot less.
