The truth about salaries and bonuses at Societe Generale in Hong Kong

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The truth about salaries and bonuses at Societe Generale in Hong Kong

If you’re looking for an investment banking job in Hong Kong, Societe Generale is something of a niche option. The French firm ranked outside Dealogic’s top-10 banks for Asia (ex-Japan) revenue in M&A, ECM and DCM in the nine months to end-September. Across geographies, net income in SocGen’s global banking and investor solutions division fell 7.6% year-on-year in the third quarter of 2019, according to its financial results.

Nevertheless, SocGen’s Hong Kong office at Three Pacific Place serves as its headquarters for Asia, a region where it employs more than 9,000 staff. And SocGen isn’t averse to taking on new Hong Kong investment bankers in the final quarter of the year, traditionally a quiet time for hiring. It’s currently looking for an associate-level DCM banker, for example.

If you want to apply for this job, or another IB role at Societe Generale in Hong Kong, you’ll want to have a rough idea of how much the bank pays its front-office staff in the city. Globally, SocGen isn’t renown as a generous paymaster. As we reported in April, SocGen’s material risk takers (people whose work has a material impact on the bank’s risk profile) earned a lot less in 2018 than equivalent staff at other European banks. However, Hong Kong-specific compensation figures from Glassdoor indicate that SocGen’s bankers there are not poorly paid, at least not in junior to mid-ranking roles. 

We looked through Glassdoor’s SocGen numbers across the three seniority levels that the website has sufficient data for: analyst, associate and vice president. IB pay at Societe Generale in Hong Kong obviously varies from banker to banker, so the figures in the table below should be seen as approximate guidance. Moreover, we only reviewed Glassdoor’s high-range annual salaries and cash bonuses for top performers at SocGen, because they better reflect the earnings of front-office investment bankers.

SocGen declined to comment on its front-office investment banking pay in Hong Kong.

How much will your salary and bonus be at Societe Generale in Hong Kong?

The approximate Glassdoor numbers suggest that analyst-level investment bankers at Societe Generale in Hong Kong can expect to earn  annual base salaries of about HK$600k a year on average, although third-year analysts are likely to take home more than this.

SocGen’s IB salaries for associates are significantly higher at around HK$1,000k, and associate bonuses are about HK$200k, depending on performance, according to the self-reported Glassdoor data.

If you reach vice president (VP) level in a front-office investment banking job at Societe Generale in Hong Kong, you can expect to be paid a base salary of about HK$1,200k a year, according to Glassdoor.

Investment banking salaries at Societe Generale in Hong Kong

Image credit: AdrianHancu, Getty

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