It might not come as shock to you, but managing directors in banks make… Well, bank.
What’s been hard to measure for a while is just how much they make exactly. But now, courtesy of combing public disclosures of H1b visas and the data behind our very own salary and bonus report, we have a pretty good answer.
Managing directors in banks are always paid a lot, but it also depends upon where they are. MDs in the UK (mostly London) and USA (mostly New York) make around $400k in salary alone, with London MDs having a slight edge.
The salary step down from London and New York to Asia (mostly Hong Kong and Singapore) is not that surprising either, but it might be a bit disheartening. Data from Instagram account Litquidity suggests that a SVP/Director in New York can relatively easily out earn an MD in both Asia and continental Europe.
In London, MDs earn a lot more than VPs in salary. The average third-year VP in London earns around £165k ($209k) in the city before bonuses. London MD salaries are twice that. In New York, Litquidity suggests the increase is “just” 38%.
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Click here to fill in our anonymous form, or email [email protected]. Signal also available.
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)
