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Bonus Watch '15: UK Banks Stemming Junior Employee Exoduses With Bags Of Cash

That tends to help.
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A first-year VP.

VP and director level employees still have to suffer the indignity of being described as "junior" employees by Bloomberg, but the extra money should cushion that blow.

Junior U.K. merger bankers received a 70 percent jump in 2015 bonuses as their employers seek to stem departures after two years of low payouts, according to salary benchmarking website The median bonus of a vice-president working in the mergers department paid out this year rose to 85,000 pounds ($130,500) from 50,000 pounds, while a director-level banker saw a 6 percent gain to 127,500 pounds, it said in a statement on Wednesday. Bonuses for VPs were as high as 98,000 pounds in 2011 and hit a low of 42,000 pounds in 2013. “Institutions found themselves with entire junior teams giving up on banking, put off by heavy regulations on pay, poor press for bankers and a gloomy outlook for the industry, to jump over to private equity, which offered dreams of uncapped pay packages,” Thomas Drewry, chief executive officer of Emolument, said in the statement. “The impact of this exodus has hit pitching capabilities hard and banks now find themselves pushing hard to retain junior talent.”

Junior U.K. Merger Bankers Get 70% Bonus Jump, Survey Shows [Bloomberg]


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