Football players’ bonuses increase, but Wall Street deals with reductions

(MENAFN) In many aspects, investment bankers and football players stand worlds apart—the former working longer hours, lacking the physical prowess of the latter, and enjoying significantly fewer admirers. However, both operate in sectors that generously reward their stars through substantial bonuses and performance-based incentives.

Recent developments underscore the divergent paths these two professions are taking in terms of compensation. Manchester City disclosed a staggering wage bill of (USD528.12) million last year, fueled by bonuses for winning prestigious football titles in the UK and Europe. In stark contrast, Wall Street is anticipating a 25 percent reduction in bonuses this year due to sluggish business deal activity.

While investment bankers still command high salaries—median pay at New York City securities firms hovered around USD500,000 last year—Manchester City stands out as a financial powerhouse in the sports arena. With 520 employees, only 11 of whom are required at Premier League stadiums at any given time, the club incurs an average cost of USD1 million each in wages and benefits.

Manchester City’s extraordinary success goes beyond its financial prowess, surpassing even renowned clubs like Real Madrid and Barcelona to become the most profitable team in Europe, boasting revenues of (USD890.19) million last year. The transformation of the club in 2008, under the ownership of His Highness Sheikh Mansour bin Zayed Al Nahyan, has been a key factor in its unprecedented rise.

This juxtaposition underscores the potential parallels between sports clubs and financial institutions, where both can thrive by assembling and managing a pool of highly valued talent. The strategic focus and rigorous team management adopted by Manchester City evoke memories of the bygone era of partnerships at Goldman Sachs.

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