Investment banks continue to offer a generous reward package despite the financial crisis.
Private medical insurance (PMI) is the most commonly-offered perk in the sector, provided by 93% of respondents, according to Aon Consulting’s Banking sector report, which surveyed 34 investment banks. More than half (55%) also cover employees’ families.
The majority also operate an occupational pension scheme, with 5% running a defined benefit plan and 95% providing a defined contribution (DC) pension.
Of those that offer a DC plan, 40% pay a fixed contribution, just under a third (30%) make either age-related or service-related contributions, and 27% match staff contributions.
Nearly two-thirds (61%) of respondents allow employees to pay their bonus directly into their pension pot.