Salary Is What Matters To Bond Pros, Say Employees
Fixed-income professionals rank quality of compensation as the most important factor to them, according to the first annual Best Places to Work on Wall Street online survey, which was conducted by InstitutionalInvestor.com , a BondWeek sister Web site. Of the 620 respondents, approximately 20% were fixed-income professionals. Although fixed-income employees ranked salary as number one, the same people also gave their firms mediocre marks for delivering on quality of compensation--ranking it a 3.36 out of a possible 5.0. In fact, of the top five factors cited as most important to them by employees, only one--commitment to strong business ethics--was in the top five of those things firms deliver best. For the complete results and methodology of the survey go to www.Institutionalinvestor.com/bestplaces. The quality of compensation also topped the list of what all respondents thought was most important to them. Overall, Barclays took top honors as the best place to work as its employees gave it an average score of 4.01 out of a possible 5.0 across 28 different categories. Barclays was the only firm of the 13 ranked to have a score over 4.0.
Methodology
This poll is not a scientific survey. It was conducted via InstitutionalInvestor.com 's Web site and reflects the opinions of only the respondents who participated online. InstitutionalInvestor.com received 620 responses from 54 firms. The firms not reflected in the top 13 did not have enough responses to be compared in the ranking. But all participants' answers are reflected in the 28 category rankings across the various other sections in this report. Responses were recorded from firm employees globally; approximately 75% were from U.S.-based employees.
| Best Places to Work - Overall Ranking | ||
| Rank | Firm | Final Score |
| 1 | Barclays | 4.01 |
| 2 | UBS | 3.67 |
| 3 | Goldman Sachs | 3.64 |
| 4 | Bear Stearns | 3.61 |
| 5 | Morgan Stanley | 3.4 |
| 6 | J.P. Morgan | 3.33 |
| 7 | Lehman Brothers | 3.23 |
| 8 | Merrill Lynch | 3.07 |
| 9 | CSFB | 2.93 |
| 10 | BNP Paribas | 2.86 |
| 11 | Deutsche Bank | 2.74 |
| 12 | Bank of America | 2.64 |
| 13 | Prudential Financial | 2.38 |
| Fixed Income | ||||
| What's Important | Score | How Firms Deliver | Score | |
| Quality of compensation | 4.55 | Location | 4.02 | |
| Ability to contribute/decision-makers respect for your ideas/opinions | 4.38 | Commitment to strong business ethics | 3.99 | |
| Loyalty to employees shown by management | 4.38 | Dress code | 3.96 | |
| Opportunities for advancement | 4.32 | Benefits | 3.85 | |
| Commitment to strong business ethics | 4.2 | Vacation policy | 3.81 | |
| Management responsiveness to employee concerns | 4.13 | Firm reputation | 3.79 | |
| Firm reputation | 4.05 | Opportunity to work abroad/relocation assistance | 3.67 | |
| Stability within firm (consistency of upper management, retention, no constant reorgs etc) | 4.04 | Client support | 3.66 | |
| Communication from top management about firm direction/business decisions | 3.99 | Work space (technology, administrative support ) | 3.57 | |
| Client support | 3.96 | Ability to contribute/decision-makers respect for your ideas/opinions | 3.54 | |
| Office camaraderie | 3.93 | Office camaraderie | 3.53 | |
| Benefits | 3.54 | Workplace diversity | 3.48 | |
| Location | 3.44 | Communication from top management about firm direction/business decisions | 3.46 | |
| Work space (technology, administrative support ) | 3.42 | Training | 3.46 | |
| Training | 3.38 | Entertainment policy | 3.46 | |
| Vacation policy | 3.14 | Opportunity to travel | 3.44 | |
| Meals/transportation on late nights | 2.81 | Management perks | 3.39 | |
| Dress code | 2.8 | Quality of compensation | 3.36 | |
| Flexible hours | 2.76 | Meals/transportation on late nights | 3.36 | |
| Entertainment policy | 2.67 | Opportunities for advancement | 3.32 | |
| Gym on premises/membership reimbursement | 2.63 | Flexible hours | 3.28 | |
| Workplace diversity | 2.56 | Tuition reimbursement | 3.24 | |
| Opportunity to travel | 2.49 | Gym on premises/membership reimbursement | 3.2 | |
| Opportunity to work abroad/relocation assistance | 2.43 | Company-sponsored recreational activities | 3.2 | |
| Tuition reimbursement | 2.35 | Loyalty to employees shown by management | 3.15 | |
| Company-sponsored recreational activities | 2.11 | Management responsiveness to employee concerns | 3.07 | |
| Availability of day care | 1.78 | Availability of day care | 3.07 | |
| Management perks | 1.76 | Stability within firm (consistency of upper management, retention, no constant reorgs etc) | 3.04 |