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2017 Financial Services Front Office Salary Guide

Financial Services Front Office Salary Guide

01-01-2017
Submitted by global_admin on Sun, 01/01/2017 - 18:08
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See salaries for professionals in asset management, equity/fixed income research, investment banking, private equity, and corporate and private banking.

After the significant market-wide basic salary increases we witnessed in late 2014/ early 2015, basic salary levels remained largely unchanged throughout 2016 across front office functions in Hong Kong. 

Included in Financial Services Front Office salary guide are salary ranges for Investment Banking & Capital Markets Salaries | Corporate Banking Salaries | Private Banking Salaries | Asset Management Salaries | Hedge Funds Salaries | Commentary

Investment Banking & Capital Markets Salaries

Corporate Finance Salaries Sales & Trading Salaries
Analyst 1 30k - 70k Sales - Institutional - Analyst 40k - 60k
Analyst 2 40k - 80k Sales - Institutional - Associate 50k - 70k
Analyst 3 50k - 90k Sales - Institutional - VP 130k - 160k
Associate 1 60k - 115k Sales - Corporates - Analyst 40k - 60k
Associate 2 70k - 130k Sales - Corporates - Associate 50k - 70k
Associate 3 80k - 145k Sales - Corporates - VP 130k - 160k
VP 100k - 185k Trader - Analyst 40k - 60k
Director 150k - 225k Trader - Associate 80k - 120k
Managing Director 190k - 290k Trader - VP 130k - 160k
Equity Research Salaries
Research Associate 50k - 120k Supervisory Analyst 100k - 180k
Research Vice President 120k - 180k Head of Product 150k - 200k
Research Director 150k - 230k * *
Research MD 180k+ * *

Note: Monthly salaries in HKD

Corporate Banking Salaries

Corporate Banking - Product Specialist Salaries Project Finance Commodity & Trade Finance Structured Finance
Analyst 35k - 55k 35k - 55k 35k - 55k
Associate 60k - 70k 60k - 70k 60k - 70k
AVP 70k - 85k 70k - 85k 70k - 85k
VP 90k - 120k 90k - 120k 90k - 120k
SVP / Team Head / Director 130k+ 130k+ 130k+
Commercial Banking Relationship Management Salaries Corporate Banking Relationship Management Salaries
Associate 20k - 30k Associate 30k - 40k
AVP 30k - 40k AVP 40k - 50k
VP 40k - 65k VP 50k - 80k
SVP / Team Head / Director 65k - 85k SVP / Team Head / Director 80k - 120k

Note: Monthly salaries in HKD

Private Banking Salaries

Role Associate Associate Director / VP Director Executive Director MD
Private Banker 50k - 60k 60k - 100k 110k - 125k 130k - 150k 160k+
Fund / Portfolio Manager 40k - 50k 50k - 80k 80k - 120k 130k - 150k 150k+
Investment Advisor / Consultant 35k - 50k 60k - 100k 100k - 120k 125k - 150k 150k+
Product Specialist 35k - 50k 50k - 70k 80k - 125k 125k - 150k 150k+
Trade / Dealer 30k - 50k 50k - 80k 80k - 100k 100k - 130k 130k+
Business Management 35k - 45k 50k - 80k 80k - 120k 130k - 150k 150k+
Assistant Relationship Manager 30k - 50k 50k - 80k * * *
Product Development / Management 35k - 45k 50k - 70k 80k - 100k 100k - 120k 130k+

Note: Monthly salaries in HKD

Asset Management Salaries

Role Analyst Associate / AVP VP /
Senior Manager
SVP / Director MD
Fund Manager 45k - 55k 55k - 70k 70k - 95k 120k - 200k 250k+
Research Analyst 30k - 45k 45k - 60k 63k - 83k 92k - 150k 180k+
Retail / Institutional Marketing 15k - 25k 25k - 45k 45k - 65k 65k - 90k 150k+
RFP Writer / Investment Writer 20k - 30k 30k - 45k 50k - 70k 70k - 100k 100k+
Performance Analyst 20k - 30k 40k - 50k 50k - 85k 100k - 120k *
Retail / Intermediary Sales 25k - 50k 35k - 80k 60k - 120k 80k - 150k 150k+
Institutional Sales 25k - 50k 35k - 80k 60k - 150k 100k - 200k 200k+
Client Relationship / Account Management 17k - 25k 25k - 45k 45k - 70k 70k - 100k 100k+
Execution Trader / Dealer 20k - 30k 30k - 50k 50k - 70k 70k - 120k 150k+
Product Development / Management 20k - 30k 30k - 50k 50k - 70k 70k - 150k 100k+
Product Specialist 30k - 45k 45k - 65k 65k - 92k 95k - 150k 200k+

Note: Monthly salaries in HKD

Hedge Funds Salaries

Role Analyst AVP VP / Senior Manager SVP / Director Senior Director
Fund / Portfolio Manager 45k - 60k 55k - 70k 70k - 100k 120k - 200k 250k+
Investment Analyst 30k - 48k 48k - 70k 70k - 120k 110k - 150k 150k+
Economist / Investment Strategist 30k - 45k 45k - 65k 70k - 120k 110k - 170k 200k+
Portfolio Construction 35k - 45k 40k - 55k 60k - 65k 70k - 85k 90k - 115k
Trader 20k - 45k 40k - 65k 70k - 100k 90k - 165k 180k+
Investor Relations 25k - 35k 35k - 50k 65k - 100k 92k - 170k 200k+
Private Equity 35k - 60k 70k - 145k 130k - 185k 160k - 225k 110k - 210k

Note: Monthly salaries in HKD

Commentary on Financial Services Front Office Roles and Remuneration in Hong Kong for 2017

We expect much of the same for 2017, with base salaries flat in investment banking (bar those based on promotion through analyst and associate ranks which typically increase 10% year on year), and it is a similar story in sales and research.

Certain corporate banks, particularly those who have seen significant staff attrition, have increased their base salary significantly to retain their bankers this year, but this is far from the norm. We would expect 2017 to follow suit with many banks freezing salaries or increasing salaries by up to 5% excepting grade promotions.

For private banking and asset management again, salaries are largely on par with last year, and we would expect this to be the same in 2017.  As with the sell side, it has been a challenging year.

Overall for 2017, we expect static or minimal increases in basic salary and compensation to remain static or decline across front office. 

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