Global sales managers and COOs earning more than CEOs these days

Global account managers are earning an average annual bonus of £37,000 this year – higher than traders, brokers and even CEOs of companies.

Tier 1 fx liquidity brexit bremain

In London, sales is king.

Not the traditional sales in which leads are converted via telephone calls, but the development and maintenance of high quality institutional relationships by highly sophisticated and experienced executives with vast experience ranging from internships at major banks, followed by institutional positions in major publicly listed firms, before elevation to the leadership of a business development department.

Among London’s giants, managing a sales team as a global account manager or sales team leader requires a deep understanding of the full structure of this industry, as the clients of such firms are often operations directors of large brokerage firms and expect the very best in terms of liquidity, market connectivity and pricing in a highly competitive world.

For this reason, international business development executives are at the very top of the hierarchy when it comes to annual bonuses at the moment, higher than COOs and indeed CEOs of companies in the same industry and same city.

Research conducted by Glassdoor, a portal that provides statistics on employment which range from remuneration to job satisfaction, has concluded that the average bonus received in a year by global account managers is £37,000, taking their average salary to £90,000.

This is indeed a handsome package, however that applies to non-management positions, further highlighting the emphasis that companies put on the importance of rewarding quality sales staff.

Research by FinanceFeeds has concluded that a manager (for example head of eFX or prime brokerage at a major institutional firm in London) would be remunerated to the tune of approximately £120,000 per annum including bonus.

Chief Operating Officers are in high demand this year, earning an average of £152,500, with a bonus of £31,500 on average being part of this figure.

CEOs of City firms earn an average of £155,000m which includes a bonus of £30.450 according to the research.

Traders, portfolio managers, brokers and account executives make up the highest positions in terms of average remuneration below CEOs, with equities traders now earning an average of £120,938 with an average bonus of £30,000 and brokers earning £85,000 with an average bonus of £27,500.

Even joining the financial services industry as an account executive, which is effectively an entry level sales position is lucrative in London, with under-30s earning £60,500 on average, with an average bonus of £24,000.

Indeed, the million pound annual salaries are still omnipresent, as they were in the striped shirt and braces heyday of the 1980s, and therefore these are contributors to the high averages.

Certainly, for those with a comprehensive knowledge of the business, and can maintain relationships globally, the highest bonuses await.

Read this next

Digital Assets

Luxembourg’s regulator warns on false regulation of Crypto Capital Profits

The regulator of Luxembourg’s financial markets, the Commission de Surveillance du Secteur Financier (CSSF), has warned that a firm claiming to be authorized under the name Crypto Capital Profits is in fact not licensed to carry out business from within its jurisdiction.

Institutional FX

FINRA fines Wedbush $900K over reporting violations

The Financial Industry Regulatory Authority continues to take disciplinary actions against financial services firms for providing inaccurate securities trading information.

Digital Assets

Bitkub investigated by Thai regulator in ‘wash trading’ case

Thailand’s Securities and Exchange Commission has targeted Bitkub over allegations of inaccurate reporting and wash trading on its cryptocurrency platform.

Crypto Insider

Crypto.com secures approval to launch its services in France

Crypto.com has registered its cryptocurrency services with the dual regulatory structure in France, which includes the Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR).

Inside View

How to offer iOS compliant trading apps? Editorial by Chris Rowe

Webtraders are becoming increasingly important for FX and CFD brokers as more and more of their clients are trading using their mobiles. 

Institutional FX

SpiderRock deploys Eventus trade surveillance for futures and options offering

“As we have begun to provide direct market access as a routing broker and grown in our futures offering, which is subject to a different regulator, we wanted to make sure we chose a trade surveillance platform that has all the tools that we need, a format we can review easily, and capabilities to demonstrate to regulators that we have the proper trade surveillance procedures in place. Validus checks all the boxes for us.”

Industry News

Space and Time raises $20 million to grow its decentralized data warehouse

“We look forward to seeing the ways in which Space and Time will allow the business logic in centralized systems to be automated and connected directly to smart contracts.”

Digital Assets

Mastercard, hi app partner to issue cards with NFT avatars

In partnership with Mastercard, crypto and fiat financial app hi is launching what it calls “the world’s first debit card featuring NFT avatar customization.”

Digital Assets

Wirex to support government of Uzbekistan to adopt blockchain

“We’re excited to work alongside the Uzbekistan Direct Investment Fund in order to help the sector thrive, enrich the financial ecosystem there and set a benchmark for other countries, and ultimately expand.”

<