Russia investment bankers strike it rich

Investment bankers are pulling fatter paychecks in Moscow than peers anywhere else in the world, according to published reports.

Investment bankers are pulling fatter paychecks in Moscow than peers anywhere else in the world, according to published reports.
Banks like UBS and Lehman Brothers are offering salaries that range between $7 million and $10 million a year to managing directors in Moscow, while their counterparts in New York bring home between $2 million and $3 million, The International Herald Tribune reported.
Goldman Sachs and other stateside securities firms have swooped in to recruit local competition from Renaissance Capital and Troika Dialog.
Managers who can handle merger advisory and underwriting services are in high demand, according to the Tribune.
The credit belongs to Russia’s blooming economy, record numbers of initial public offerings and a booming oil market.
Those factors have boosted bankers’ salaries in Russia by 25% in the last year, while their British counterparts only saw a 15% to 20% rise in their pay, reports said.