Working at a bank can be really rewarding. More and more employees are paid, sometimes in the millions.
The number of top earners in Europe’s banks increased by more than 40 percent in 2021. The European banking regulator EBA counts 1957 income millionaires in its latest report, which was published on Thursday.
According to the European Banking Authority (EBA), this is the highest value for the 27 countries of the European Union and the European Economic Area since data collection began in 2010. In 2020, 1,383 employees of money houses or investment firms in the area under consideration received more than one million euros in remuneration.
The supervisory authority explained the increase in payment “with the overall good performance of the institutes, especially in the areas of investment banking and trading and sales”. Bonuses are usually linked to business success. In addition, in the course of the British exit from the EU (“Brexit”), some highly paid employees moved to mainland Europe.
70 percent of the significant increase in the number of high earners in the financial sector comes from institutes in Italy, France and Spain. According to EBA statistics, the most highly paid bankers in the European Union are in Germany with 589. They are followed by France (371), Italy (351) and Spain (221).
In the vast majority of cases (1516), the remuneration was between one million and two million euros. According to the EBA figures, however, in six cases the remuneration added up to a double-digit value. In Germany, a banker collected between 13 million euros and 14 million euros, in Spain it was even 14 million euros to 15 million euros because of a severance payment.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
