Sunday, December 01, 2013

Fury as high-rolling bankers’ pay rockets by 35%...

THE earnings of Britain’s highest-paid bankers soared 35 per cent last year to an average £1.6million.

And the number taking home such whopping pay packets was also up 11 per cent.

Figures from the European Banking Authority showed bankers received bonuses averaging 3.7 times their salary in 2012, up from 3.5 in 2011.

More than three-quarters of the EU’s highest-earning bankers work in the UK, where 2,714, individuals each pocketed more than £833,000 last year.

The figures, which take account of salaries, pensions and bonuses, last night led to calls for a cap on bankers’ pay.

Marc Gander, of Consumer Action Group, said: “This demonstrates a lack of control and a lack of regulation, and the bankers are partying, they shouldn’t be getting these massive bonuses.”

Chancellor George Osborne recently complained to Brussels over its plans to cap annual bonuses to a year’s salary. Banks are understood to be planning to sidestep the rules by switching to monthly bonus payments. Source...

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