The worst paid jobs on Wall Street and in the City of London

The financial industry is only the stereotypical dream of free money for a few people at the top of the heap. There are actually many types of jobs that are far from the six figure salary that most people think that you earn from the gate on Wall Street or in London’s financial district.

As a matter of fact, there is an entire industry of support personnel who are paid a near pittance. Here are a few of the worst paid jobs on Wall Street and in London.- Reconciliations

Most people never see the people behind the settlement of trades. However, there is an entire position that is completely dedicated to resolving differences of opinion in the rather common occurrence of a trade discrepancy between a buyer and a seller.

– Compliance monitoring

Although keeping in compliance is a hot button topic these days, only the compliance officers who work in large offices actually receive the big bucks. Compliance officers who are just starting out may be paid just slightly more than the janitor in the building.

– Treasury payments jobs

If you are in the position to enforce bank payments on time, then you may earn £35k+ after five years. There is a definite ceiling on this position, however.

– Client services, asset management

Asset managers need plenty of administrative and customer service support. If you do not necessarily have the skills to make the trades, but you want to be around the people who do, then this is the job for you.

– Settlements

Settlements involves everything from processing, monitoring and reconciling all the trades that take place within a bank. Unfortunately for settlements professionals, they were among the few roles where salaries headed down last year, according to Robert Walters. Associates (with four years’ experience) can expect $35-60k in NYC.- PMO analyst, projects and change management

These are the top level admin in the financial world, and salaries here can be adequate, if not noteworthy. If you can analyze change initiatives across the front office, compliance, operations and risk, you can expect starting salaries of £50k ($76k). PMO analysts do not make as much, and their job is much more difficult. They usually make around £35-50k.

– Trade floor support technology

Today’s traders need their tech to work perfectly all the time. Trade floor support jobs are likely to pay around £35k in London.

– Trade finance

This job may sound exciting,but it is really just more admin work that the traders do not necessarily want to do themselves.

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One response to “The worst paid jobs on Wall Street and in the City of London

  1. Pingback: Investment Banking: Finance Jobs Paying £1,000 Per Day | Alpha Banker·

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