UK investment bankers plan early retirement

More than one-third of UK investment bankers expect to retire before they reach 50, research has found.

A survey of 2,000 bankers conducted by financial recruitment site eFinancialCareers.com, found that majority (40%) of respondents planned to retire between the ages of 45 and 50, while a quarter planned to quit work aged 40 to 45.

Polls conducted across continental Europe, Asia and Australia revealed that German bankers have similar retirement expectations, however in France, The Netherlands, Luxembourg and Switzerland the proportion of bankers expecting to work until their 50s increased substantially.

In Asia 46% of respondents expected to work past 45, while in Australia, three in 10 expect to retire between 40 and 45, and 40% expect to retire before 40.

Sarah Butcher, editor of eFinancialCareers.com, said: “A high-flying career in banking followed by an early opt-out is still an option for many bankers. However, our poll shows a significant desire for staying in longer rather than getting out earlier.”

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