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Investment Bankers earn more today.

 

Investment Bankers
The num­ber of bankers and invest­ment pro­fes­sion­als in the EU earn­ing more than €1mn hit a record in 2021 as invest­ment bank­ing boomed and Brexit pushed more staff to the con­tin­ent. The ranks of top earners swelled more than 40 per cent to 1,957 in 2021, accord­ing to fig­ures released yes­ter­day by the European Bank­ing Author­ity. «This increase is linked to the over­all good per­form­ance of insti­tu­tions, in par­tic­u­lar in the area of invest­ment bank­ing and trad­ing and sales, con­tinu­ing relo­ca­tions of staff from the UK to the EU and a gen­eral increase in salar­ies,» said the EBA. Italy, France and Spain took the lion’s share of the increase with 70 per cent, but Ger­many remains the mem­ber state with the largest num­ber of high-earn­ing bank employ­ees, close to 600.

Invest­ment bankers were the single largest sub­group, with almost 750 earn­ing above €1mn across the EU. The highest-paid banker, accord­ing to the EBA, was in Spain, earn­ing between €14mn and €15mn in 2021. The Brit­ish gov­ern­ment has taken steps to boost com­pet­i­tion by remov­ing the bankers’ bonus cap last year. Chan­cel­lor Jeremy Hunt also revealed a pack­age of reforms in Decem­ber, includ­ing relax­ing ring­fence rules that sep­ar­ated ris­kier invest­ment bank­ing from retail oper­a­tions.

www.sba.tax

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  1. Adrian20 January 2023 at 12:22

    Recent years have been very good for investment bankers. Not sure 2023 or 2024 will be as good but this shouldn't be a big problem for people earning so much.

    ReplyDelete

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