Booming markets in Japan have swelled the workload for international bankers in Tokyo, but one thing hasn’t changed — stubbornly low pay.
Compensation in many cases remains a fraction of pay in other financial hubs, according to more than a dozen senior bankers and recruiters from the city’s business districts of Marunouchi and Roppongi.
Bonuses at international investment banks dropped by about 10% on average in Tokyo for 2023, the people estimated, asking not to be identified discussing private information. The decline was often tied to the performance of the banks outside of Japan, the people said.