My Base Salary 'Stinks' - The Firm League Table
The results of our survey are now in, and here are the main results:
4.2% of respondents say that they feel that their base salary exceeds the market rate
26.5% say that it's about right
51.3% say that they feel it is below market rate
18.0% say that they feel that their base salary stinks
Where we had enough data, we have been able to calculate a 'base salary stink factor'. And here is a league table, based on the views of the respondents to our poll:
1. JPMorgan - 51.7% of respondents said that they thought that their base salary 'stank'
2. State Street - 49.7%
3. Morgan Stanley - 42.6%
4. Lehman Brothers - 39.6%
5. Merrill Lynch - 32.4%
6. SG Corporate & Investment Banking - 32.1%
7. Bear Stearns - 31.4%
8. UBS Investment Bank - 24.2%
9. Citi - 21.3%
10. Bank of New York - 19.6%
11. Dresdner Kleinwort - 17.2%
12. ABN AMRO - 16.5%
13. Jefferies & Co - 14.1%
14. Deutsche Bank - 11.1%
=15. Bank of America - 0%
=15. Barclays Capital - 0%
=15. Commerzbank - 0%
=15. Credit Suisse - 0%
=15. Goldman Sachs - 0%
It's interesting that the US firms (except Goldman) have come out worst in this poll. That could be because most of these firms gear staff pay more towards total compensation - judging by these poll results, something their staff might not have totally bought into.
And here's the split Front / Middle / Back Office
Front Office
Exceeds market rate - 3.5%
Is about right - 27.8%
Is below market rate - 52.8%
Stinks - 15.9%
Middle Office
Exceeds market rate - 2.3%
Is about right - 30.3%
Is below market rate - 55.8%
Stinks - 11.6%
Back Office
Exceeds market rate - 6.5%
Is about right - 22.3%
Is below market rate 47.3%
Stinks - 23.9%
Here's how the regions breakdown:
Europe, Middle East & Africa
Exceeds market rate - 4.6%
Is about right - 30.2%
Is below market rate - 48.6%
Stinks - 16.6%
The Americas
Exceeds market rate - 3.2%
Is about right - 12.4%
Is below market rate - 62.6%
Stinks - 21.8%
Asia-Pac
Exceeds market rate - 3.1%
Is about right - 12.1%
Is below market rate - 57.1%
Stinks - 27.7%