The New York City law obliging employers to disclose salaries paid to employees comes into force tomorrow, the 1st of November.
Some banks are already complying with the new regulations. And some of the revelations are both surprising and informative.
Campus recruiters, for instance, can be handsomely paid. At Morgan Stanley, a role for a senior campus recruiter is being advertised with a salary between $75k and $130k. A similar sounding role at Citi is being advertised with a salary between $92k and $138k.
There’s also such a thing as an ORM (operational risk management) chief. At JPMorgan, an executive director (ED) level operational risk position with the alternative wealth management division pays a salary between $171k and $250k. Citi is also advertising a role for a “head of ORM adherence & execution quality assurance”, with the rather wide salary range between £0.00 and £2.57m.
Diversity jobs can also be lucrative. A JPMorgan ED in diversity, equity, and inclusion can expect a salary between $166k and $235k, while someone in a “global head” diversity role at Citi can expect between $275k and $400k.
Some serious front office jobs are also available for salary disclosures – Citi says that an ETF or bond trader can earn between $150k and $225k, whilst an equities trader can earn between $175k and $300k. A power trader at Morgan Stanley can expect to earn between $150k and $200k.
Bear in min …