05.19.23
'ESG' in U.S. Finance Job Titles Comes With 20% Pay Premium
by: Isla Binnie
U.S.-based bankers and money managers whose job titles include "ESG" or "sustainability" earn on average around 20% higher base salaries than colleagues of the same seniority without those labels, according to an analysis by data startup Revelio Labs. "Salaries of ESG and non-ESG personnel started to diverge in 2020, in line with the spike in hiring in ESG roles due to the increasing focus on ESG and sustainable investing in the finance sector," said Loujaina Abdelwahed, an economist at the company. ESG-labeled roles overtook non-ESG on a six-month moving average basis in June 2020, and in August 2021 surged to peak around $109,846, $20,000 higher than non-ESG.
Read the full article on Reuters