Report: Woke finance jobs pay more.

ESG Roles in Asset Management and Banking Pay More

According to data from Revelio Labs, roles in asset management and banking associated with the environmental, social, and corporate governance movement (ESG) pay more than those unrelated to ESG. The average pay for finance roles with ESG in their titles is over $110,000, exceeding the $90,000 average pay for those in finance roles without ESG. The analysis examined 28 million publicly available sources and did not consider bonuses.

ESG Movement and Profitability

While skeptics of the ESG movement argue that it emphasizes political and social causes that distract from profitability, the expanding popularity of the movement in corporate circles comes with a salary premium. There is considerable demand for financial services related to ESG, with over $35 trillion invested in accordance with the philosophy worldwide at the start of 2020, representing more than one-third of all professionally managed assets in the regions evaluated by the Global Sustainable Investment Alliance.

Expectations for Sustainable Investment

The industry is in transition, with rapid developments across regions that are reshaping sustainable investment to increasingly focus on moving the industry towards best standards of practice. Sustainable investment is defined not just by the strategies involved, but by the short and long-term impacts that investors are having from their sustainable investment approach.

Controversy Surrounding the ESG Movement

The elevated prominence of the ESG movement has not occurred without controversy. Republican state lawmakers have implemented a number of efforts to divest state funds from companies associated with the investment philosophy, while conservative consumers have shunned popular brands which cater to the ideology as they attempt to maintain their scores on ESG indices in order to retain access to investment funds.

Expectations for Employers

Workers have come to expect that their employers vocally support activist efforts. The most recent edition of the Edelman Trust Barometer found that 62% of respondents say companies are “doing mediocre or worse living up to their promises and commitments to address racism both within their organization as well as the population.”