<title>Abstract</title> The past ten years have witnessed a sharp rise in competition in UK financial services. This has been due to factors such as liberalisation, increases in technology and advancing globalisation. As a result of these pressures there has been an increasing emphasis placed on cost...

Although expenditure on wages represents a major element of costs in financial services firms, there is a dearth of studies analysing wage levels in the sector. This paper examines reservation wage levels in the sector by utilising maximum likelihood selection and stochastic frontier...