Vanguard's European business has just released its results for the year ending December 2020. They suggest that while working for an index fund provider isn't quite as lucrative as working for a hedge fund, it's not that bad either.
Average pay per head for the 510 employees at Vanguard Asset Services Ltd. last year was £195k ($270k) when payroll taxes are excluded. This was an increase on the £160k average per head that Vanguard paid in 2019.
If you want to join Vanguard on this basis, you probably don't want to work in sales, where there have been quite a few job cuts in the past year. However, as the chart below shows, Vanguard has added people in investment management and has more than doubled its number of managers in the U.K..
In 2020, Vanguard Asset Services also increased pre-tax profits by 145% to £26m.
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