Remuneration Report
- Service Used Remuneration Reports
- Department Sales and Trading
The Assignment Background
A long standing client for whom we had recruited several traders already decided to understand if remuneration was one of the reasons for their staff turnover. The questions at board level was to explore the claims during annual reviews and bonus season that competitors were paying more from anecdotal evidence. The findings provided the leadership team with clear data points and qualitative insights to support strategic decisions around compensation policy.
The Goals of the Report
Together with the management we decided to conduct a benchmarking remuneration report to explore if the comparison in bonuses was like for like and if desk costs, profil at loss on the trading desk and managerial responsibilities were taken into account. The findings would provide the leadership team with clear data points and qualitative insights to support strategic decisions around compensation policy.
Conducting and Distilling the Data
Having compiled a list of 30 firms most relevant in the industry our researchers first input all the anonymised real time data of the remuneration our team had through making placements and interviewing. In addition we reached out and spoke in private to traders about their current remuneration structure in their present role as well as their previous positions with other employers.
Presenting the Findings
Once we had the raw data, we decided that it was best to present the actual numbers and structures rather than smooth it out of present an average. This gave a new perspective on how firms across the industry handled their own remuneration and discover how their incentives had evolved and changed over the years. It also uncovered the power employees had when they knew their worth and could negotiate salaries outside of the company’s bands for a title or what portion of their remuneration was deferred.