Investment bankers are benefiting most amid a post-Covid comeback, with total compensation up more than an average of 20% over this time last year. Those working in equities will also see average compensation increases up roughly 20% across cash equities, equity derivatives, and prime finance.
Hiring activity across all financial sectors is at its highest pace since 2007 and before the financial crisis. Companies are also adapting to radical hybrid work environments for a technology-empowered workforce.
These are the year’s financial executive recruitment trends, according to insights and data from the new 2021/2022 Global Financial Markets Overview & Compensation Report from Options Group, the preeminent Wall Street talent acquisition and development firm.
The theme of this year’s report is “The Return versus The Resign.”
More than one year later from the pandemic’s worst, fewer people live in city centers. Others left the workforce entirely to pursue lifestyle and career changes, despite ambiguous outcomes.
“We know companies are still trying to manage employee expectations about returning to the office, on top of following all health and safety guidelines and mandates to ensure employee well-being. The Delta variant in early summer didn’t help rollout plans. And surprisingly, vaccination continues to be a polarizing issue among all employees, as there were assumptions made for group behavior that have now turned into individualistic challenges,” says Michael Karp, Options Group’s Chief Executive Officer.
“Then, there are those people who resigned during the pandemic and are now asking for their old jobs back. What now? The ‘Great Resign’ may ultimately be a short-lived learning exercise that the grass isn’t always greener,” says Karp.
“Offices may never again run at full capacity. Meanwhile companies are struggling to hire new talent and keep the talent they have. Firms are now replacing and refilling roles with even greater insights into their actual needs, after operating for the better part of a year in a leaner capacity.
“We have also seen substantial demand for executive placements in the alternative assets space, particularly hiring in technology sectors encompassing digital assets, payments, and cryptocurrencies,” says Karp.
About this year’s Global Financial Markets Overview & Compensation Report
The report is available in mid-November 2021, and is compiled based on data available between January 1 through November 8, 2021.
Access to the full report is granted only to C-Suite and global HR executives, and is used as a vital tool to advise on payouts and trends across the entire financial executive compensation landscape.
The report is based on internal year-over-year percentage change data gathered from a survey of managing partners and product team leaders in the U.S., EMEA, Asia, Latin America, Australia, and India.
The data consists of average compensation bands for Managing Directors, Directors, Vice Presidents, and Associates.
The report contains exclusive insights concerning compensation structures, market overviews, key comp trends and forecasts, and information about accepted, rejected, and counter offers. Forecasts are based on results from the firm's OGiQ intelligence unit, public data such as SEC filings, and questionnaires conducted among hundreds of Options Group's global consultants.
About Options Group
Founded in 1992, Options Group is a leading global talent acquisition and strategic consulting firm for the financial services and technology industry. Since 2000, we have maintained a local presence on five continents and have placed over 16,000 mid- to senior-level professionals in all areas of the financial services industry at a range of institutions. With more than 175 consultants and market intelligence professionals 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, and information technology.