This chart that should have every manager on Wall Street worried

Quinlan & Associates

The report has lots of interesting stats. For example, the bulk of those looking to leave their current role are either looking to move to a different role in finance or move to a competitor. However, a significant chunk, adding up to 28%, are either planning on taking a career break or moving to another industry.

Compensation is unsurprisingly the number one driver behind a desire to leave, but another factor, a lack of promotion opportunities, also features prominently.

In addition, softer issues, such as the team dynamic, and overall working hours, are also important factors in the discontent.

There is a cost associated with staff leaving. The report seeks to quantify the cost of losing staff and replacing them, finding that a 1% rise in voluntary employee turnover rates is costs global banks somewhere between $250 million and $500 million.

“With voluntary staff turnover now 1-2% above historical levels for a number of leading firms, some banks are incurring up to $1 billion in incremental replacement costs annually.”