[Re-post of an article]
How much will senior structured credit professionals earn this year? Lots, according to a survey of leading structured credit search firms.
The survey, by Structured Credit Investor, suggests managing directors in structured credit will receive an average salary in excess of £125,000 this year, plus a bonus of more than £2m.
The best paid structured credit pros are working in sales positions. Managing directors in structured credit sales receive average salaries of £127,721 and bonuses of £2,162,204.
By comparison, structured credit traders at managing director level command an average salary of £133,000 plus a bonus of £1,781,906 (to be precise).
Unsurprisingly, pay for structured credit expertise exceeds that for standard credit products: structured credit pros now earn an average of 30% more than their credit flow colleagues. The differential is highest at executive director level, where pay is a more impressive 35% more.
Shaun Springer, chief executive of search firm Napier Scott – one of those consulted for the survey – said structured credit professionals have had a good year: “At some banks credit derivatives people haven’t done as well they’d expect, but generally speaking it’s been a fantastic year for the industry – lots of new products, far more players, far more liquidity and the spreads have been very favourable.”
Average salaries and bonuses, structured credit pros
Executive director, structured trading
Salary: £107,193. Bonus: £1,076,796
Executive director, structured sales
Salary: £114,440. Bonus: £916,130
Director, structured trading
Salary £90,206. Bonus: £632,581
Director, structured sales
Salary £96,070. Bonus: £708,730