As JPMorgan prepares to open its new office in Paris, a wage and bonus research from recruitment agency Dartmouth Partners means that it makes good sense for junior funding bankers to work in the French capital: they will earn extra there than in London.
As per the chart beneath, Dartmouth says pay for analysts in funding banks in Paris goes from €103k to €147k, that associates can earn from €202k (for first yr associates) as much as €289k on common, and that common pay for VPs is as much as €410k. By comparability. Dartmouth’s most current London pay survey says analyst whole compensation begins at round £85k (€99) and that pay for first yr associates is often round £150k (€175k).
With the French banking recruitment market overheating, the pay revelations counsel junior bankers have good purpose to go away London for the Paris market. However, they’re unlikely to work fewer hours there: French banks have a reputation for working employees even more durable than banks in London.
Some banks in France additionally pay greater than others. Dartmouth’s survey does not cowl the French banks – which have a status for paying a lot less than the Americans – however it does spotlight large discrepancies between different European banks and US banks.
As the charts beneath present, JPMorgan is often considered one of the greatest paying banks for junior funding bankers in Paris, which is sweet information for anybody occupying the new workplace. However, if you need the actually massive cash as you progress up the French banking hierarchy you in all probability wish to select Lazard or Rothschild. Hover over the charts beneath for the quantities.
Have a confidential story, tip, or remark you’d wish to share? Contact: [email protected] in the first occasion. Whatsapp/Signal/Telegram additionally out there. Bear with us when you depart a remark at the backside of this text: all our feedback are moderated by human beings. Sometimes these people may be asleep, or away from their desks, so it might take some time to your remark to seem. Eventually it should – until it’s offensive or libelous (in which case it gained’t.)