City salaries soar in '07

Total cash collected by city staff jumped between 1.2% and 11.3% last year, with those working in investment management receiving the highest cash raise. The Watson Wyatt report found salaries climbed at just over 4%, regardless of seniority, although directors and senior managers did pocket a 7.2% increase. Total cash growth for staff in sales leapt 7.9%; 7.7% in commercial/corporate banking and 7.4% in actuarial. The report also discovered 18% of companies look to position base pay above the median, with 43% hoping to make above market rises on a total cash basis. Watson Wyatt senior ...