![\"London\"](\"http:\/\/english.thesunrisetoday.com\/wp-content\/uploads\/2014\/05\/London.jpg\")
Bankers relocating from London to other European financial hubs following Britain\u2019s exit from the European Union could face lower pay packages, according to an industry survey published on Friday by compensation consultant Emolument.\nThe average managing director, one of the more senior ranks in investment banking, earns \u00a3478,000 (SR2.1 million) a year in London compared with \u00a3312,000 in Paris, \u00a3298,000 in Frankfurt and \u00a3333,000 in Milan, the survey said.
\nThose figures comprise the average annual salary and bonus combined of 4,475 front-office bankers\u2019 pay packages analyzed for the study, Emolument said.
\nAround 10,000 finance jobs will be shifted out of Britain or created overseas in the next few years if the UK is denied access to Europe\u2019s single market, according to a Reuters survey of firms in September.
\nFrankfurt was by far the most popular destination for the new roles, the Reuters survey said, with Paris a distant second.
\nFrankfurt Mayor Peter Feldmann talked up the attractions of his city on Friday for bankers considering relocating, praising its security, international schools, transportation, diversity and night life.
\nFeldmann, opening a conference of elite bankers, said: \u201cYou can leave your body guards at home.\u201d
\n\u201cYou hardly find gated communities because you don\u2019t need them.\u201d
\n\u201cEvery kid in our town knows what money is,\u201d he said. \u201cIt is not something to be ashamed of, but it is a part of our identity.\u201d
\nLondon leads the pay market across all ranks of investment banking from the most junior associates up to managing directors, the Emolument study showed. Frankfurt comes second for more junior staff while Paris is second to London in terms of pay for senior executives.
\nPay is not the only consideration for bankers looking at which of the European financial centers offers the most attractive overall lifestyle. In Frankfurt, 70 percent of bankers interviewed said they had a good work-life balance, Emolument said, as against 61 percent for London and 59 percent for Paris.
\n\u201cAs regards moving away from London to other EU capitals, while pay may be lower, pain points such as schooling and generally higher quality of life should compensate bankers transferring to the continent,\u201d Alice Leguay, co-founder at Emolument said.<\/p>\n