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2012 | 2013 Global Financial Marketswww.optionsgroup.com
New York | London | Hong Kong | Tokyo | São PauloBoston | Newport Beach | Frankfurt | Sydney | Mumbai | New Delhi | Singapore | Shanghai | Zürich
Know Your Options
ExECutivE vERsiOn
Annual Candidate Survey Results
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Table of Contents
Summary of Results .......................................................................................................................... 4
Buy Side v. Sell Side .......................................................................................................................... 9
Fixed Income, Currencies & Commodities....................................................................................... 14
Commodities .......................................................................................................................................... 14
Credit ...................................................................................................................................................... 20
Rates/Foreign Exchange ......................................................................................................................... 26
Securitized Products ............................................................................................................................... 32
Research ................................................................................................................................................. 38
Equities .......................................................................................................................................... 44
Cash Equities .......................................................................................................................................... 44
Equity Derivatives ................................................................................................................................... 50
Emerging Markets .................................................................................................................................. 56
Prime Services ........................................................................................................................................ 62
Research ................................................................................................................................................. 68
Investment Banking ........................................................................................................................ 74
Hedge Funds ................................................................................................................................... 80
Asset Management ........................................................................................................................ 99
Private Wealth Management ........................................................................................................ 106
Private Equity ................................................................................................................................ 113
Other Firm Preference .................................................................................................................. 119
Greece .......................................................................................................................................... 121
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Michael Karp New York [email protected]
Bob Reed New York [email protected]
Ike Suri Newport Beach [email protected]
Gene Shen Shanghai [email protected]
Ed Kass New York [email protected]
Carlos Mejia New York [email protected]
Simon Satanovsky New York [email protected]
David Korn London [email protected]
Raveen Shah London [email protected]
Vinicius Bolotnicki São Paulo [email protected]
Meri Miller Partner [email protected]
Vickram Tandon Partner [email protected]
Push Patel Partner [email protected]
Tom Cleary Partner [email protected]
BOSTON Andrew Madison Executive Director [email protected]
NEWPORT BEACH Ike Suri Managing Partner [email protected]
SÃO PAULO Vinicius Bolotnicki Managing Partner [email protected]
LONDON David Korn Managing Partner [email protected]
ZÜRICH Simi Dhody Partner [email protected]
FRANKFURT Diana Herpel Director [email protected]
SINGAPORE Tyler Jackson Executive Director [email protected]
MUMBAI Anil Sharma Director [email protected]
NEW DELHI Priyanka Kheterpal Executive Director [email protected]
HONG KONG Oliver Read Partner [email protected]
SHANGHAI Gene Shen Managing Partner [email protected]
TOKYO Noriko Hasumi Executive Director [email protected]
SYDNEY Stuart Halfen Director [email protected]
NEW YORK
MANAGING PARTNERS
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COMPENSATION SURVEY AND ANALYSIS METHODOLOGY
This report contains candidates’ responses from Options Group’s Annual Candidate survey that was conducted from July to October 2012. In this report, “compensation” or “total compensation” is defined as base salary plus cash and non‐cash bonus. The survey results are actual responses from financial services professionals worldwide. All compensation figures are in U.S. dollars.
Options Group claims no responsibility for the accuracy of this information. This report provides an analysis of data gathered from our candidates. Percentage changes in compensation are based on employees’ expectations and do not include Options Group’s perspectives on current compensation and hiring trends. This survey was one component used for the Options Group 2012/2013 Global Financial Markets Overview and Compensation Report. The Compensation Report provides thorough assessments of expected compensation for 2012 by product, asset class, region and banking institution. This report is intended for institutional clients, not for candidates.
DISCLAIMER
These survey results are intended for reference purposes only. We believe that the information contained in this publication is dependable, having been procured from our proprietary survey conducted through October 31, 2012. Options Group does not guarantee its accuracy or completeness, and nothing in this report may be construed as a representation of such a guarantee. This survey is a single source of data in the overall analysis of compensation structures. Options Group does not accept any responsibility for liabilities arising from the use of this document or any of its content. Any reproduction, sale, or distribution is strictly prohibited.
ABOUT OPTIONS GROUP
Founded in 1992, Options Group is a leading global executive search and strategic consulting firm for the financial services industry. Since 2000, we have maintained a local presence on five continents and have placed thousands of mid‐ to senior‐level professionals in all areas of the financial services industry at a range of institutions. With over 100 consultants and market intelligence analysts worldwide, Options Group has a thorough knowledge of key competencies in the financial industry and is at the cutting edge of global hiring services and compensation trends for securities, investment banking, hedge funds, asset management, private equity and information technology. Options Group possesses a track record of consistently providing expeditious and comprehensive executive search and market intelligence services to clients. For additional information, please contact: Jessica Lee [email protected]
ABOUT OPTIONS GROUP INTELLIGENCE UNIT (OGIU)
Options Group Intelligence Unit is the business information and research arm of Options Group. Through its extensive global network of analysts, consultants and client relationships, Options Group Intelligence Unit is uniquely equipped to assist senior executives in making more prudent business decisions by providing timely, accurate and reliable analysis on financial firms and market trends. Options Group is committed to delivering value‐added market intelligence and strategic consulting in addition to our executive search services.
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22001122 CCAANNDDIIDDAATTEE SSUURRVVEEYY
SUMMARY OF RESULTS
The Options Group Intelligence Unit (OGIU) conducted a global survey between July and September and received over 4,000 responses. The survey entailed 20 specific questions to assess the sentiment of compensation trends and to capture additional perspectives from our clients. The following are select results of the survey.
SURVEY DEMOGRAPHICS
SAMPLE BIAS AND LIMITATIONS
The questions in this survey regarding compensation were elective; approximately 20% of all respondents chose to not provide their compensation information. Comparing compensation ranges between the candidate survey where people chose to provide their compensation details and our in‐house database, the latter figures have been 25% to 40% higher. As an executive recruiting firm, our business is driven by bringing to clients only the most accomplished professionals. These professionals, in virtue of their specialized talent, skill and/or experience, earn more than their average/typical peers. We believe the 20% that chose not to provide their compensation in the survey are the top 5% of professionals in their fields‐ because they are aware their compensation is significantly higher than their peers, by revealing their compensation, they would no longer be anonymous survey participant.
COUNTRY/REGION# OF
RESPONSESAsia (Singapore & Hong Kong) 429Brazil 453CEEMEA 57China 51Europe 105India 120Japan 72Latam‐ex Brazil 90Switzerland 123UK 534US 2181
TOTAL 4215
FIRM TYPE# OF
RESPONSES1st Tier Bank 10682nd Tier Bank 375Asset Management Firm 387Boutique 150Broker‐Dealer 405Hedge Fund 540Merchant Bank 60Physical Trading Firm 90Private Equity 180Proprietary Trading Firm 198Wealth Management 204Regional Bank 303Technology Provider 90Other 165
TOTAL 4215
Greece
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21%
7% 4%
42%
35%
27%
8%
12%24%
17%
36%41%
8% 7%4%4% 4%
IBD PWM PE
Definitely Yes Probably Yes Maybe Probably not Definitely not Don't Care
7% 6%14%
33%36% 24%
38%
13%
9% 22%
14%
43%50% 41%
28%
7%3% 5% 7%
HF AUM < $1B HF AUM $1.1B ‐ $5B HF AUM $5B+ AM
Definitely Yes Probably Yes Maybe Probably not Definitely not Don't Care
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OPTIONS GROUP GLOBAL LOCATIONS
New York 121 East 18th Street | New York, NY 10003 | 212.982.0900
London 3 Copthall Avenue, 5th Floor | London, EC2R 7BH | +44.207.448.0100
Hong Kong 902 Dina House, 11 Duddell Street Central | Hong Kong | +852.2155.1300
São Paulo Rua Do Rocio, 288 11th Floor | São Paulo–SP | +55.11.3371.1101
Tokyo Holland Hills Mori Tower 16F, 5‐11‐2 Toranomon, Minato‐Ku | Tokyo 105‐0001 Japan | +81.3.5777.4200
Zürich 106 Bahnhofstrasse, 8001 | Zürich, Switzerland | +41.43.443.7490
Boston 92 State Street, Suite 700 | Boston, MA 02109 | 617.263.0490
Newport Beach 660 Newport Beach Ctr. Drive, Suite 760 | Newport Beach, CA 92660 | 949.706.6500
Delhi Executive Center, Level 18, Building 5, Tower A, DLF Cyber City, DLF Phase‐3 Gurgaon | +91.124.388.2788
Frankfurt An Der Welle 4, 60322 | Frankfurt, Germany | +49.69.7593.8660
Mumbai 231 Trade Centre, 2nd Floor, Bandra Curla Complex | Bandra (East) Mumbai 400 051 | +91.22.2652.2130
Shanghai No. 288 Nan Jing (W) Road, Suite 305 | Shanghai 200003 , P.R. China | +86.21.3366.3088
Singapore 9 Raffles Place, Republic Plaza, Level 57 | Singapore 048618 | +65.6823.1550
Sydney Level 13, 167 Macquarie St | Sydney NSW 2000, Australia | +614.2342.7554
