Financial News
- 12 March 2013, 11:05
City Bankers 'Unhappy' With Level Of Pay
Over half of bankers were not satisfied with their pay last year, according to research by a financial services recruitment firm.
Selby Jennings said that 64% of those surveyed in London said they were "unhappy with their overall remuneration package".
Globally, over 67% of those who work in finance were not satisfied with their total pay.
The banking industry has been hit by a number of scandals over recent years - including Libor rate-fixing and the mis-selling of payment protection insurance.
But even when asked to take the "current market conditions" into account, almost half of respondents maintained that their pay was unfair.
Of the 619 bankers questioned, three quarters earned more than £50,000 a year and a third took home over £100,000.
Almost a fifth said they did not receive a bonus last year - but 12% of the respondents earned a bonus of 100% or more of their salary.
It comes as the Parliamentary Commission on Banking Standards - set up in the wake of the Libor scandal - warned the Government that its reforms of the industry did not go far enough.
what do you think?
simon calvert
Why don't they go somewhere else and earn more money that's what they keep threatening.go on. ... I'll help them pack. ... on second thoughts they can pack themselves .. They are so wonderfully talented they would do it way better.
stewgwyn
Asolutely Simon. We are constantly being told that by clamping down on their bonus culture we may lose the fiscal talent to other countries. If this is the ''talent'' that has got us into this mess, then let them go.
shaun spencer
This is a joke.its not april 1st yet is it.
john
Bloated fat pigs require bigger trough.
john
I appear to have upset some porkers, oh dear, what a shame, never mind.
Mark Wood
Perhaps it's time to start paying such people the same level as other professional who work the same hours - i.e. considerably less and without the perks. Someone somewhere in the baking sector needs to get real!
Mark Wood
banking not baking!!
simon calvert
I thought you were going to change the b to w..lol
shaun spencer
I thought he meant " the taking sector".
Martin Peacock
There was a young girl from Sri Lanka, who fell in love with a banker. She gave him her all. He made a withdrawal. And then he did not even thank her.
Michael Hawkins
Mark I regularly pay other professionals between £40 and £210 per hour What level would you set the bankers at the £83000 or the £437000 per year
Name witheld
This comment has been removed for violations of our Terms and Conditions.
Peter Edwardson
Is this the face of pure greed? We need to make the banks and their management require voted approval from the shareholders for any type of remuneration they receive. I have no problem paying bonuses to any employee as long as the business results are good and they are based on the pure profit numbers.
simon calvert
Unfortunately the majority share holders are the highest paid at the banks they've ensured that with share bonuses. ... It's a criminal racquet.... always had been.
Michael Hawkins
Simon Wrong as usual The majority share holders in Lloyds and RBS is the government I most other UK banks it is the pension companies There have in recent year been a few shareholder revolts at AGMs unfortunately too few to make a real difference
Phil A
So this shows that 67% of bankers are greedy?????
Michael Hawkins
Only 67% seems low Most people, if asked if they wanted more money would say yes if answering honestly Just shows 30+% of bankers are liars
David Francis
Guess what - I'm unhappy with their level of pay aswell!
David Francis
B T W - what is this 'Bonus' thing they mention? - thought they went out with the arc!
Michael Hawkins
David The bonus for most of us is you keep the job for another 12 months
David Francis
MH - 12 Months? Can't see that far ahead m8!
Gordon Wright
What should one say to a banker dissatisfied with his lot?? How about, "Try dishing up a big Mac and fries for 8 hours a day, 5 days a week and see how long you can survive in the real world with real people". Then you'll be entitled to moan...................otherwise, shut up!!
Gordon Wright
Further to my last, I am also dissatisfied with bankers pay. It should be a lot lower...............
Micheal Booth
Little Suzi, who works at the counter at you local branch and fills up the Cash M/C, she is a Banker and she certainly doesn't get a £m bonus!!!
Martin Peacock
For the whole of my working life I earned over £100,000 per annum. The trouble is, I was only ever actually paid a tiny fraction of that. So have a guess at my level of satisfaction. Realistically, is there anyone on the planet who IS genuinely satisfied with their pay? I suspect not.
sirpedro08
I must be in a minority then. I think am paid more than I am worth. I get well paid, and don't moan - I live well on my salary. If you can't take the heat, get out of the kitchen and move on.
chrishearn350
This comment has been removed for violations of our Terms and Conditions.
simon calvert
2:53pm on 11/3/2013
Unfair.... Your heart bleeds doesn't it. ...