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HSBC Results are out HSBC’s pre-tax profits almost doubled to $2.7bn in the final quarter of 2021 as the UK lender’s commercial banking revenues were buoyed by growth in credit and lending. The London-based bank said in an earnings statement on Tuesday that full-year pre-tax profits increased 115 per cent to $18.9bn, just missing forecasts of $19.1bn. Reflection of these results on employees : Single digit hikes even for top performers. Same scene continues from past 3 years now. HSBC
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^This can't be accurate. They will never pay a director as much as a partner.
Depends on region, los, and experience. I know of some managers who make under $100 and some who are first years making $130.
$0-10
I know a director on NYC that makes around 350k. They have only been with the firm a few years and they're in their mid 30's.
Managers start at around 100 and directors are up to 225. After that you should be a partner or managing director or have moved onto a different job.
It's definitely right. I know for a fact that newly promoted Pwc partners will make more than that for the second half of their promotion year (i.e. W2 employee through July 1 and then partner for remainder of year). Tenured partners easily make over a million on average. So yes, an established director in NY office can easily make over $300k.
I know how much partners can make. I don't disagree that an MD can make 350, but I really don't think a director is making 350. Sorry I don't believe you.
Partners make 4-500k plus 4-500k bonuses
2, both years
It's 100 percent right and you obviously have no idea what some of these partners make either.
In tax there are no managing directors, at least in my specific line of service. You're either a manager or a director.
Nope this isn't a managing director. They're a director from advisory. It also depends on the practice you're in and the amount of revenue they bring in. I'm in a practice that pulls in a lot of revenue unlike some of the others. Im a manager and started off above what folks are discussing as manager salaries.
@PwC1 - There are MDs in tax, but they aren't that common. Generally it's the non-partner track.
I've never once heard of a MD in tax. Or a MD in audit
There are MDs in tax. I can confirm that. It's more common in the tax specialty areas.
There are MDs in core tax and specialty groups. Depends on market
When I was promoted to Manager, salary increased to $100k. In year 3, salary currently at $125k.
What rating PwC8 in your first two years as manager?
Assuming they'll make it up in year 2 because raises were atrocious after year 1