NYC managers best paid in the world

Fund managers in New York are the best remunerated in the world, followed by Zurich, London and Paris, salary-benchmarking site Emolument.com has found. The site analysed 5,162 pay data points for professionals in a number of industries working in these four cities, finding New York paid the most across the board in a majority of sectors. However, fund managers were best off in New York in more than one sense. Managers there can expect to earn up to £201,000 (€240,000) annually, compared with £138,000 in Zurich, £125,000 in London and £90,000 in Paris. However, while Zurich bested London and Paris, the site said managers seeking optimal income should avoid Zurich due to its exceptionally high cost of living, which means their actual take home pay was much smaller than managers in London. Moreover, while New York managers are the best paid, the lower relative cost of living in Paris and London (-16% and 15% respectively, compared to New York) goes some way to balancing this. Alice Leguay, chief operating officer at Emolument.com, said financial services remained by far the best paying industry globally, as bonuses boost total pay packages far beyond other jobs. “The high concentration of financial professionals in some locations such as Zurich, London and New York is a contributing factor to the high costs of living with bankers pushing up property prices in the most desirable locations,” he added. ©2016 funds europe

Executive Interviews

FRENCH INTERVIEW: How Yves Perrier scored at Amundi

Nov 16, 2016

Yves Perrier, chief executive officer of Amundi, talks to David Stevenson about his plans for the company since it was floated last year.

INTERVIEW: It’s in the name

Nov 08, 2016

JP Morgan Asset Management says it has gained the first wholly foreign-owned entity (WFOE) licence that permits fund management in mainland China. George Mitton talks to the firm’s Asia-Pacific...

Roundtables

ROUNDTABLE: Do it yourself

Nov 30, 2016

As exchange-traded funds continue to amass assets in a difficult market, Funds Europe speaks to key ETF industry figures about their concerns and strategies.

ROUNDTABLE: Eurovision fund contest

Nov 14, 2016

Our panel discuss the development of Ireland’s funds industry, from the Icav to Asia and Brexit and beyond. Chaired by Nicholas Pratt.