Asset managers' pay drops for second year in a row

Pay has fallen by a fifth since 2014

The total median pay for asset managers has dropped for the second year in a row as rising costs and falling profits increase pressure on firms to cut salaries.

The median pay for managers fell by 2% to $99k (£79k) with salaries falling by nearly a fifth in total since 2014, according to the Financial Times. Furthermore, pay data from 9,600 individuals working in the asset management industry showed the majority of fund staff's bonuses either remained static or fell last year, according to figures from research house Emolument. Woodford scraps staff bonuses Many firms have recently introduced restriction measurements on pay, with Deutsche Bank announcing it was cutting 2016 bonus payments for its top managers, while Aberdeen Asset Manageme...