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Brexit hits fund manager pay

Spotlight on charges 700x450.jpgBrexit has been blamed for pay in the UK asset management industry flatlining as remuneration globally in the industry rises.

UK employees took home average pay of $134,000 (£99,000) in 2017, the same figure as the previous year, according to salary benchmarking company Emolument.

In contrast, US asset management workers saw pay increase 7.3 per cent from $150,000 to $161,000 over the same period, the Financial Times reports. In Europe, pay rose to €111,000 ($133,000) from €106,000 in 2016.

Globally total pay rose an average 5 per cent in 2017 with buoyant markets driving up fund manager revenues.

However, in the UK, companies are keeping a tighter control on their cost base until the impact of Brexit becomes clearer, the Financial Times reports.

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