Member Article

City workers' bonuses at a record high

Senior City workers within the financial services sector are expecting an average 21% rise in their bonus payouts for this year, according to a survey by recruitment firm Astbury Marsden.

The increase would take the average bonus to £124.6k, reports the survey of 1,500 senior City staff.

According to the BBC, The European Union is introducing a new law that limits a bonus to no more than 100% of a banker’s fixed salary, or twice that level with shareholder approval

Staff working in private equity expect an average bonus of £145.6k, which would be 115% of their average salary.

The survey also found that more than half of the employees who responded said they would change roles if they were not happy with the bonus they received.

Adam Jackson, a director at the firm, said: “Business conditions in the City have improved significantly over the last year,”

“Despite shareholder and public pressure to limit bonuses and with the EU bonus cap now set to be introduced at the start of 2015, City staff clearly feel that their employers are in the position to reward them well.”

This was posted in Bdaily's Members' News section by Ellen Forster .