【20大行業薪酬：醫生 | 律師 | 會計Big4 | 銀行| I-bank畢業生 | 教師 | MT | AO EO | Marketing | 地產零售IT | 管理層 | PM/BA】
投資銀行Detusche Bank德意志銀行最近公布2024年年終花紅，雖然整體盈利下跌，但花紅花池增加10%。
1. 高管薪酬：德意志銀行的十位董事會成員在2024年的總薪酬達到約6810萬歐元。董事會主席Christian Sewing的薪酬超過975萬歐元，使他成為德國股票指數（DAX）中收入最高的高管之一。
2. 利潤情況：儘管在2024年，德意志銀行的稅前利潤下降了7%，約為53億歐元，股東的淨利潤更是下降了36%，降至約27億歐元。
3. 獎金池增加：由於投資銀行業務表現良好，稅前利潤增長了78%，這推動了員工的獎金池增加至25億歐元，高於2023年的20億歐元。這一增長反映了投資銀行在整體業績中的關鍵作用。
4. 高額獎金的分配：在2024年，有647名員工的獎金超過100萬歐元，較2023年的505人增加近30%。其中4名員工超過1000萬歐元，最高一位達到了1700萬到1800萬歐元。
5. 利潤下降的原因：利潤的下降主要是由於對早期Postbank股東的賠償，這些股東認為在2010年德意志銀行收購Postbank時未獲得公平對待。
其餘投資銀行花紅
在經歷多番裁員下，有幾間投行包括美銀、摩根士丹利、摩根大通、高盛、德意志銀行的花紅彩池傳聞都會增加花紅10%以上。
據彭博引述知情人士指，滙豐控股企業和機構銀行等部門今年的獎金將有所減少。雖然尚未就獎金問題做出最終決定，但目前的內部指導意見是未來幾周的獎金可能會令人失望。
我們可以先參考一下不久前eFinance careers 推出的《2024 Compensation Guide》，參考下過去2年的Bonus，以及Base Salary和市場平均有沒有差距。下面所有貨幣以港元HKD為單位
香港投資銀行不同職級的薪酬
| 2023 | 2022 | |||||
| HK | Base | Bonus | Bonus Months | Annual Total | Bonus | Bonus Months |
| Analyst & Associate | 69,824 | 413,306 | 5.9 | 1,251,198 | 347,677 | 5.0 |
| Vice President | 106,557 | 562,622 | 5.3 | 1,841,307 | 351,452 | 3.3 |
| Director | 174,778 | 1,569,071 | 9.0 | 3,666,406 | 1,074,154 | 6.1 |
| Managing Director | 308,750 | 3,510,000 | 11.4 | 7,215,000 | 2,730,000 | 8.8 |
2023的花紅數量明顯比2022年多，VP到MD的差別多按年多3個月。2023年全年連Bonus計算，頭幾年人工大約10萬多少少，去到VP有15萬，涯到幾年至近10年去Director有近30萬。
新加坡投資銀行不同職級的薪酬
| 2023 | 2022 | |||||
| SG | Base | Bonus | Bonus Months | Annual Total | Bonus | Bonus Months |
| Analyst & Associate | 58,080 | 358,589 | 6.2 | 1,055,551 | 366,530 | 6.3 |
| Vice President | 99,090 | 339,604 | 3.4 | 1,528,683 | 559,424 | 5.6 |
| Director | 157,896 | 1,049,747 | 6.6 | 2,944,500 | 1,645,613 | 10.4 |
| Managing Director | 237,250 | 2,418,000 | 10.2 | 5,265,000 | 2,437,500 | 10.3 |
新加坡做Ibank比香港的人工低，Analyst至Director職級大約低20%，去到MD就更加相差30%。
各地區投資銀行按職級薪酬比較
Analyst
| 2023 | 2022 | |||||
| Analyst | Base | Bonus | Bonus Months | Annual Total | Bonus | Bonus Months |
| APAC | 48,750 | 280,316 | 5.8 | 865,316 | 255,941 | 5.3 |
| UK | 58,906 | 449,732 | 7.6 | 1,156,607 | 462,899 | 7.9 |
| Europe | 44,250 | 467,384 | 10.6 | 998,384 | 313,981 | 7.1 |
| USA | 88,947 | 743,106 | 8.4 | 1,810,474 | 618,431 | 7.0 |
美國薪酬最高，比起APAC亞洲，高超過一倍，始終東西方近年投資氣氛都差天共地，不過香港稅率遠比美國低，所以稅後差距實際上並沒有這麼大
Associate
| 2023 | 2022 | |||||
| Associate | Base | Bonus | Bonus Months | Annual Total | 2022 Bonus | 2022 Bonus Months |
| APAC | 67,738 | 419,827 | 6.2 | 1,232,689 | 392,379 | 5.8 |
| UK | 78,706 | 492,523 | 6.3 | 1,436,994 | 476,666 | 6.1 |
| Europe | 79,424 | 426,707 | 5.4 | 1,379,797 | 392,324 | 4.9 |
| USA | 103,719 | 671,393 | 6.5 | 1,916,023 | 766,826 | 7.4 |
去到Associate Level，各地的人工差距就會減少，亞洲APAC的年薪已經超越歐洲。
Vice President
| 2023 | 2022 | |||||
| Vice President | Base | Bonus | Bonus Months | Annual Total | Bonus | Bonus Months |
| HK | 106,557 | 562,622 | 5.3 | 1,841,307 | 351,452 | 3.3 |
| SG | 99,090 | 339,604 | 3.4 | 1,528,683 | 559,424 | 5.6 |
| UK | 105,047 | 632,065 | 6.0 | 1,892,623 | 591,217 | 5.6 |
| Europe | 105,529 | 719,066 | 6.8 | 1,985,420 | 712,499 | 6.8 |
| USA | 134,811 | 812,284 | 6.0 | 2,430,012 | 730,603 | 5.4 |
Director
| 2023 | 2022 | |||||
| Director | Base | Bonus | Bonus Months | Annual Total | Bonus | Bonus Months |
| HK | 174,778 | 1,569,071 | 9.0 | 3,666,406 | 1,074,154 | 6.1 |
| SG | 157,896 | 1,049,747 | 6.6 | 2,944,500 | 1,645,613 | 10.4 |
| UK | 84,563 | 1,163,308 | 13.8 | 2,178,064 | 1,151,475 | 13.6 |
| Europe | 122,758 | 1,242,306 | 10.1 | 2,715,406 | 1,240,910 | 10.1 |
| USA | 164,781 | 1,504,285 | 9.1 | 3,481,655 | 1,415,489 | 8.6 |
來到Director Level，香港的就已經超越美國成為市場最高，還未有計算稅率優勢。
Managing Director
| 2023 | 2022 | |||||
| Managaing Director | Base | Bonus | Bonus Months | Annual Total | Bonus | Bonus Months |
| HK | 308,750 | 3,510,000 | 11.4 | 7,215,000 | 2,730,000 | 8.8 |
| SG | 237,250 | 2,418,000 | 10.2 | 5,265,000 | 2,437,500 | 10.3 |
| UK | 296,563 | 3,789,997 | 12.8 | 7,348,747 | 3,617,765 | 12.2 |
| Europe | 166,067 | 1,783,540 | 10.7 | 3,776,347 | 1,908,949 | 11.5 |
| USA | 238,875 | 2,861,329 | 12.0 | 5,727,829 | 2,759,671 | 11.6 |
投資銀行各部門按職級薪酬比較
分析完地域，我們按部門去區分，Front Office、Middle Office和Back Office始終都有一定差距
IBD部門按職級薪酬
| IBD | Base | Bonus | Bonus Months | Annual Total | 2022 Bonus | 2022 Bonus Months |
| Analyst | 76,875 | 514,800 | 6.7 | 1,437,298 | 475,800 | 6.2 |
| Associate | 98,977 | 540,852 | 5.5 | 1,728,581 | 561,124 | 5.7 |
| Vice President | 138,314 | 1,174,454 | 8.5 | 2,834,224 | 1,115,579 | 8.1 |
| Director | 159,972 | 1,396,021 | 8.7 | 3,315,686 | 1,489,090 | 9.3 |
| Managing Director | 258,985 | 4,192,500 | 16.2 | 7,300,316 | 3,952,003 | 15.3 |
因為近兩年IPO市場疲弱，所以以往IBD分十幾個月Bonus的好景已經不復再，不過初級到中級員工依然平均有5.5近8.7個月花紅，而被炒剩的MD在少人分下，自然分得的Bonus也會比較多。
Sales & Trading
| Sales & Trading | Base | Bonus | Bonus Months | Annual Total | 2022 Bonus | 2022 Bonus Months |
| Analyst | 59,196 | 622,144 | 10.5 | 1,332,497 | 585,000 | 9.9 |
| Associate | 96,250 | 549,900 | 5.7 | 1,704,901 | 626,488 | 6.5 |
| Vice President | 125,735 | 992,066 | 7.9 | 2,500,883 | 898,482 | 7.1 |
| Director | 185,416 | 2,189,086 | 11.8 | 4,414,082 | 2,234,591 | 12.1 |
| Managing Director | 316,875 | 3,625,378 | 11.4 | 7,427,878 | 4,104,282 | 13.0 |
相比之下，Sales & Trading 近兩年的Bonus有機會比IBD還要高，而這兩個Front Office部門的總薪酬就差不多。
Technology & Quantiative
| Technology & Quan | Base | Bonus | Bonus Months | Annual Total | 2022 Bonus | 2022 Bonus Months |
| Analyst | 47,273 | 292,500 | 6.2 | 859,771 | 250,715 | 5.3 |
| Associate | 67,621 | 390,000 | 5.8 | 1,201,450 | 369,829 | 5.5 |
| Vice President | 106,820 | 375,445 | 3.5 | 1,657,282 | 310,783 | 2.9 |
| Director | 142,328 | 658,967 | 4.6 | 2,366,902 | 632,065 | 4.4 |
來到Middle Office，Bonus的數量就一如以往地比較少，但依然有3.5至6.2個月。計及Bonus大約入職時有6、7萬，上到VP有大約12-13萬。
Risk & Compliance
| Risk & Compliance | Base | Bonus | Bonus Months | Annual Total | 2022 Bonus | 2022 Bonus Months |
| Analyst | 42,250 | 195,000 | 4.6 | 702,000 | 195,000 | 4.6 |
| Associate | 61,750 | 298,997 | 4.8 | 1,039,997 | 325,003 | 5.3 |
| Vice President | 94,426 | 357,497 | 3.8 | 1,490,603 | 423,431 | 4.5 |
| Director | 150,764 | 562,060 | 3.7 | 2,371,223 | 539,120 | 3.6 |
| Managing Director | 230,750 | 1,443,000 | 6.3 | 4,212,000 | 2,340,000 | 10.1 |
投資銀行各細部門薪酬比較
如果不理職級，按仔細部門區分，會有以下結果
Hedge Fund比起投資銀行更加高薪，2023年取得的Bonus達到14.4個月，是所有部門裡面最高。
之後就是幾個Sales & Trading (S&T)的部門，平均大概每人也拿到10個月以上。
IPO市場不景氣下，ECM和DCM的收入都排在上述部門甚至Euqity Research之後。
| Base | Bonus | Bonus Months | Annual Total | 2022 Bonus | 2022 Bonus Months | |
| Hedge Fund | 143,662 | 2,074,582 | 14.4 | 3,798,522 | 1,987,861 | 13.8 |
| Macro S&T | 170,625 | 1,731,740 | 10.1 | 3,779,240 | 1,819,997 | 10.7 |
| Equities S&T | 145,021 | 1,390,654 | 9.6 | 3,130,904 | 1,404,359 | 9.7 |
| Credit S&T | 133,611 | 1,473,334 | 11.0 | 3,076,671 | 1,332,045 | 10.0 |
| M&A | 133,957 | 1,342,364 | 10.0 | 2,949,843 | 1,400,779 | 10.5 |
| Commodities S&T | 114,766 | 1,499,066 | 13.1 | 2,876,258 | 1,420,715 | 12.4 |
| Equity Research | 141,471 | 1,054,217 | 7.5 | 2,751,863 | 877,500 | 6.2 |
| DCM | 132,453 | 1,081,696 | 8.2 | 2,671,133 | 936,764 | 7.1 |
| Asset Management | 117,989 | 1,021,948 | 8.7 | 2,437,820 | 802,285 | 6.8 |
| ECM | 135,736 | 804,375 | 5.9 | 2,433,202 | 731,250 | 5.4 |
| Quant | 115,690 | 765,001 | 6.6 | 2,153,284 | 683,998 | 5.9 |
| Private Equity | 101,470 | 836,612 | 8.2 | 2,054,247 | 838,016 | 8.3 |
| Finance | 91,526 | 697,733 | 7.6 | 1,796,044 | 710,806 | 7.8 |
| Risk | 112,500 | 440,996 | 3.9 | 1,790,997 | 492,001 | 4.4 |
| Technology | 99,912 | 470,293 | 4.7 | 1,669,231 | 404,399 | 4.0 |
| Compliance | 88,214 | 482,368 | 5.5 | 1,540,937 | 617,503 | 7.0 |
| Operations | 78,659 | 457,829 | 5.8 | 1,401,738 | 395,655 | 5.0 |
【20大行業薪酬：醫生 | 律師 | 會計Big4 | 銀行| I-bank畢業生 | 教師 | MT | AO EO | Marketing | 地產零售IT | 管理層 | PM/BA】
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