Bankers and traders feel much more secure in their jobs than their colleagues in compliance

The 2,000 financial services respondents to our Bonus Expectations survey were generally quite secure in their jobs. But that confidence did vary significantly by both their location and their employer - and quite significantly, as it turns out, by what exactly they did.

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By some margin, the respondents in our survey most secure about their jobs worked in investment banking.

“Made progress getting deals originated,” said a US-based Jefferies M&A director who responded to survey. He expected his bonus to double on last year but was also looking for a new job because his MD was “gatekeeping” opportunities.

The most insecure professionals, on the other hand, were in compliance and risk. Broadly speaking, there were two main factors for their insecurity: the use of AI, as well as continual offshoring. “Constant redundancies and management changes being announced also the introduction of AI has meant we are told to do more faster,” said a Citibank risk associate based in the UK. “People are leaving… and are not being replaced.” He noted that he planned on leaving the bank next year.

A risk director for European bank/insurer ING, based in the Netherlands, noted that his role was at risk due to “nearshoring”, a phenomenon in which jobs are moved to cheap but local jurisdictions such as Eastern Europe. He said that he planned to look for a new job next year.

Still, not everyone in the middle office is so negative. “Regulatory guidance continuance,” said one Deutsche Bank risk associate, to explain why he was confident in his job security. “I work for a very stable bank,” said a peer at BNP Paribas. And “I do my job well,” said a London-based Lloyds compliance analyst.

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