Risk management jobs are hot. When Deutsche Bank announced its results for 2015 yesterday, it revealed the addition of nearly 2,700 people in non-front office jobs last year. Risk managers and compliance professionals almost certainly accounted for a hefty proportion of that total.
As demand for risk managers has increased, so has their pay. New data from Emolument.com, the real-time pay benchmarking firm, reveals that total compensation for risk management professionals in the UK has increased by 25% since 2012, with salaries and bonuses rising as follows.
Based on 507 entries for risk pay in London, Emolument says average compensation in risk evolves as follows, as you move from analyst to managing director (MD). The most junior risk management professionals in the City are earning an average of £42k, the most senior an average of £250k.
However, some risk jobs pay more than others. Data from recruitment firm Robert Walters suggests the highest salaries (Robert Walters doesn't cover bonuses) for risk professionals in London go to people in quantitative risk roles. The lowest go to professionals in market risk reporting.
Moreover, some banks pay their risk professionals more than others. Data from Emolument, shown in the table below, suggests that the highest paying banks in risk in London are J.P. Morgan and Deutsche Bank. The lowest paying are Barclays and Lloyds.
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