This bank’s average pay is $500K and it needs to hire a ton of women

Now hiring: a lot of women.

Lazard, a leading financial advisory and asset management firm, will have to hire many more female workers over the next five years if the company sticks to its hiring plan and gender target.

The bank recently released its corporate sustainability report, which was first spotted by efinancialcareers. It shows that the company has a ton of ground to make up if it wants to reach its target by 2026. Specifically, Lazard said that 36% of its global staff were women; it wants to raise that to 45% by 2026.

Lazard is on a hiring spree

Earlier this week, Peter Orszag, head of its financial advisory business, told the Financial Times that Lazard is on a hiring spree.

“We’re aggressively hiring,” Orszag said. “We will look to better integrate the private-equity linked bankers with our public company coverage, so we’ve got a barbell approach coupling our large-cap business with the flow associated with sponsors.”

Lazard has increased headcount on average by 3.5% annually. Of the 3,100 people it employed last year, 1,116 were women in 2020. According to the report, by mapping out their hiring plan, Lazard will have to have 1,715 female workers to meet the 45% target in 2025.

By 2025, Lazard should employ 3,811 people, which means the bank will have to hire 599 women to fill positions, amounting to 84% of total hires, the report said. Efinancialcareers said Lazard did not respond to request for comment.

According to Bloomberg, Lazard recently said employees working in its U.S. offices will have to be fully vaccinated by July 6. It encouraged younger workers to get back into the office for the experience, but offered staff the option of working remotely two days a week starting mid-September.

The average banker’s pay at Lazard is $500K

The average banker’s pay at the bank is $500,000, according to data based on combined salary and bonuses. Analysts in the U.S. make $85K on average, associates earn $150K, and VPs receive $190K to $225K with additional bonuses.

Lazard also hired a handful of H1B data scientists last year, and paid them salaries of $110k-$150k each.

Currently, Lazard is looking for several candidates to fill jobs, including: