Napier Scott has published a remuneration survey of credit derivatives traders and structurers. Managing directors of synthetic structuring in Asia are the biggest earners, netting around GBP1.35 million (USD2.13 million), while their poorer New York colleagues get GBP1.1 million. See below for the full matrix from associate upwards.
UK Based | ||||||||||||
Bulge Bracket £000,s Package | 2nd Tier £000,s Package | 3rd Tier £000,s Package | ||||||||||
Title | CDS Trading | Exotic Trading | Structuring | Synthetic Structuring | CDS Trading | Exotic Trading | Structuring | Synthetic Structuring | CDS Trading | Exotic Trading | Structuring | Synthetic Structuring |
Managing Director | 125 + 875 | 125 + 875 | 125 + 625 | 125 + 1125 | 115 + 585 | 115 + 585 | 115 + 485 | 115 + 635 | 100 + 500 | 100 + 400 | 100 + 300 | 100 + 300 |
Snr VP - Director | 100 + 700 | 100 + 700 | 100 + 500 | 100 + 700 | 100 + 350 | 100 + 350 | 100 + 250 | 100 + 400 | 90 + 260 | 90 + 210 | 90 + 210 | 90 + 210 |
Vice-President | 90 + 410 | 90 + 410 | 90 + 260 | 90 + 410 | 80 + 270 | 80 + 270 | 80 + 220 | 80 + 320 | 80 + 170 | 80 + 170 | 80 + 170 | 80 + 170 |
Senior Associate | 80 + 195 | 80 + 195 | 80 + 120 | 80 + 220 | 70 + 155 | 70 + 155 | 70 + 105 | 70 + 155 | 60 + 90 | 60 + 90 | 60 + 90 | 60 + 90 |
Associate 1-2 YRS | 70 + 80 | 70 + 80 | 70 + 80 | 70 + 80 | 60 + 65 | 60 + 65 | 60 + 50 | 60+50 | 50 + 50 | 50 + 50 | 50 + 50 | 50 + 50 |
US Based | ||||||||||||
Bulge Bracket £000,s Package | 2nd Tier £000,s Package | 3rd Tier £000,s Package | ||||||||||
Title | CDS Trading | Exotic Trading | Structuring | Synthetic Structuring | CDS Trading | Exotic Trading | Structuring | Synthetic Structuring | CDS Trading | Exotic Trading | Structuring | Synthetic Structuring |
Managing Director | 115 + 785 | 115 + 785 | 115 + 585 | 115 + 985 | 100 + 500 | 100 + 500 | 100 + 350 | 100 + 600 | 90 + 360 | 90 + 360 | 90 + 260 | 90 + 310 |
Snr VP - Director | 95 + 605 | 95 + 605 | 95 + 455 | 95 + 605 | 85 + 315 | 85 + 315 | 85 + 215 | 85 + 365 | 75 + 225 | 75 + 175 | 75 + 175 | 75 + 225 |
Vice-President | 80 + 320 | 80 + 320 | 80 + 170 | 80 + 270 | 70 + 230 | 70 + 230 | 80 + 170 | 80 + 270 | 65 + 135 | 65 + 135 | 65 + 135 | 65 + 185 |
Senior Associate | 65 + 160 | 65 + 160 | 65 + 85 | 65 + 135 | 60 + 140 | 60 + 140 | 60 + 90 | 60 + 115 | 55 + 70 | 55 + 70 | 55 + 75 | 55 + 95 |
Associate 1-2 YRS | 50 + 50 | 50 + 50 | 50 + 50 | 50 + 75 | 50 + 50 | 50 + 50 | 50 + 50 | 50 + 75 | 45 + 30 | 45 + 30 | 45 + 35 | 45 + 35 |
Asia Based | ||||||||||||
Bulge Bracket £000,s Package | 2nd Tier £000,s Package | 3rd Tier £000,s Package | ||||||||||
Title | CDS Trading | Exotic Trading | Structuring | Synthetic Structuring | CDS Trading | Exotic Trading | Structuring | Synthetic Structuring | CDS Trading | Exotic Trading | Structuring | Synthetic Structuring |
Managing Director | 140 + 1010 | 140 + 1010 | 140 + 660 | 140 + 1210 | 130 + 670 | 130 + 670 | 130 + 420 | 130 + 670 | 120 + 480 | 120 + 480 | 120 + 330 | 120 + 380 |
Snr VP - Director | 120 + 730 | 120 + 730 | 120 + 580 | 120 + 730 | 115 + 385 | 115 + 385 | 115 + 285 | 115 + 485 | 110 + 240 | 110 + 190 | 110 + 190 | 110 + 190 |
Vice-President | 100 + 400 | 100 + 400 | 100 + 350 | 100 + 450 | 90 + 260 | 90 + 260 | 90 + 210 | 90 + 310 | 100 + 150 | 100 + 150 | 100 + 150 | 100 + 150 |
Senior Associate | 85 + 215 | 85 + 215 | 85 + 190 | 85 + 265 | 80 + 145 | 80 + 145 | 80 + 95 | 80 + 145 | 75 + 75 | 75 + 75 | 75 + 75 | 75 + 75 |
Associate 1-2 YRS | 70 + 80 | 70 + 80 | 70 + 55 | 70 + 80 | 70 + 55 | 70 + 55 | 60 + 40 | 60 + 40 | 60 + 40 | 60 + 40 | 60 + 40 | 60 + 40 |
Note : MD packages can vary by up to 400% (including stock options) and can be in excess of £4million | ||||||||||||
Note : These figures are package figures:stock options have been excluded. | ||||||||||||
Note : These figures are average packages taken mid term and reflect London prices 01.01.03 | ||||||||||||
Note : 'x' signifies that the info in this field is too small to state or does not exist |