Fat-cat investment bankers in London are getting a taste of the real world - just like the average working stiff.
Research published by a financial services recruitment firm found salaries have been frozen in more than nine out of 10 types of investment banking jobs.
The survey of 142 different functions shows no increase in the average basic pay in 92 percent of jobs in the year to March 31.
Average pay fell in 3.5 percent of jobs, while 4.2 percent saw a rise in average basic salary.
"This time last year, bankers were benefiting from substantial increases in base salaries, but the euro zone crisis blew up and changed all that," said Mark Cameron, chief operating officer of the Astbury Marsden head-hunting firm.
A separate survey earlier showed bonuses for London's financial workers will be almost halved this year - falling to their lowest level in over a decade.