Last updated: 09:06 / Thursday, 17 May 2018

Which Asset Management Companies in Spain had the Highest Average Salaries in 2017?

Which Asset Management Companies in Spain had the Highest Average Salaries in 2017?

The largest Spanish asset management companies last year offered their employees fixed average salaries between 35,000 and 72,000 Euros, according to a Funds Society study prepared from figures that the 20 largest national asset management companies sent to the National Securities Market Commission (CNMV).

According to 2017 year-end figures, the management company that best pays its employees is Bestinver Gestión, 12th largest in assets, but the most generous in terms of fixed salary. According to CNMV figures, and taking only fixed salary into account, each employee had an average salary of 72,373 Euros (figure obtained by dividing the expenses in fixed salaries among the total number of staff). It was the only management company with average salaries exceeding 70,000 Euros last year.

Bankinter Gestión de Activos, Caja Laboral Gestión, Santander AM, GIIC Fineco y Mutuactivos also stand out for the salaries they offer, in excess of 60,000 Euros. The first company, 67,632 Euros on average last year, although it is the ninth largest in terms of assets. The second company, which ranks 19th in the asset ranking, 67,400 Euros, while Santander AM, the second in the asset ranking, showed fixed average salaries in 2017 of 66,480 Euros.

The other two large asset management companies in Spain, BBVA AM and CaixaBank AM, as well as Mapfre AM, Bankia Fondos, Sabadell AM and Imantia Capital pay average salaries above 50,000 Euros.

Among the management companies with lower salaries in terms of fixed salary are Trea AM, Kutxabank Gestión, Ibercaja Gestión, Allianz Popular AM and Renta 4 Gestora.

We must remember, however,  that the figures refer only to fixed salary, excluding the variable part or bonus, which is common in the sector.