Starting salaries in investment banking soar

Starting salaries for graduates seeking jobs as traders in leading investment banks have risen to around £45,000, around £10,000 more than before the financial crisis, according to the Daily Telegraph.

Basic wages across the industry have risen to compensate for lower bonuses, which have been reduced in response to increased regulation, political pressure and public opinion. Enhanced starting salaries will ensure that the sector remains highly attractive to graduate job-hunters – and competitive to get into.

The banking and investment starting salary reported by the Daily Telegraph is even higher than the 2010 pay packets predicted to be on offer from members of the Association of Graduate Recruiters (AGR) who responded to its most recent survey, published in July, and carried out in May.

In the AGR survey investment banking emerged as the highest paid of all graduate career areas, with a median starting salary of £38,250. This was higher than the starting salary of £35,000 for all graduates recruited into the range of different roles available with organisations in the investment banking and fund management sector.

The same survey predicted an astonishing 72% increase in graduate recruitment by banking or financial services employers, but a 9% drop for investment banks and fund managers.

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Posted by Alison_TARGETjobs on 1 September 2010

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