News
31 Oct 2016 11:59am

City directors on the move this year

Almost two-thirds of City directors are planning to leave their positions over the next 12 months

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Caption: Almost two-thirds planning to leave their positions over the next 12 months

A quarter believe they don’t get enough recognition for their efforts while 21% are dissatisfied with their pay and rewards, according to research by recruitment firm Astbury Marsden. In contrast, only 4% of the more senior level of managing directors or partners said the same about recognition, pay and bonuses.

Only half of directors surveyed said they are satisfied with their current role, while 43% say they don’t see their current job as being their long-term career.

Bardia Sohi, chief operating officer at Astbury Marsden, admitted “there is not much popular sympathy” for senior investment bankers, but that they have been “through the wringer in the last five years".

“The rounds of restructuring and job cuts that have been implemented, the tightening regulatory regime and the squeeze on bonuses could – rightly or wrongly - have translated into negativity about their existing roles,” he added.

A recent report from Robert Half showed that the vast majority (94%) of finance executives would promote an employee without offering them a pay rise.

Raymond Doherty

 

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