How Much Am I Worth?: Vice President, Project Finance, Leading International Bank
Byline: Justin Keay
A panel of specialist headhunters give their assessment of typical London pay packages: Vice president, project finance - salary around [pounds sterling]75,000, bonus 50% upwardsFor many Londoners, a power cut last month - which stranded commuters and plunged much of the city into darkness for 35 minutes - was proof that insufficient money has been invested in the city's infrastructure.
For certain project financiers, eager to get large projects off the ground, it could turn into something of a godsend. Whether for PPP/municipal finance or straightforward energy projects, the power cut was the sort of dramatic incident which can help get funds flowing.
'The general view from a selection of heads in the project finance sector is that there are some excellent opportunities in the market,' says Chris Haynes of Alexander Mann, noting that utilities and power are among the current hot sectors.
And not just these: anecdotal and practical evidence suggests that project finance is beginning to revive after a few indifferent years, with heavy and light rail and infrastructure among the areas likely to benefit, along with mining and minerals (the last buoyed by current high prices for a range of precious metals).
That is not to say everything is moving: Richard Fraser of RJF Global Search suggests oil/gas and telecoms remain sluggish, the latter yet to fully recover from the blight that hit the sector after the dotcom crash in 2001.
So who is hiring? Fraser says the European banks are leading the way, with Societe Generale, Barclays and Royal Bank of Scotland among those looking to boost their teams. …