Bonuses for British investment bankers and finance workers increased by nearly £700 during the 2013-2014 year, to an average of £13,300 ($22,070) per person, according to the Office of National Statistics.
By contrast, bonuses for non-banking workers averaged out at £1,500, the same as the year prior.
Here are some highlights from the report:
- Total bonus payments across the whole economy from May 2013 to April 2014: £40.5 billion, up 4.9%.
- £14.4 billion was paid in the finance and insurance industry, up 2.9%
- Bonuses in the rest of the economy increased by 6.1% to £26.1 billion: “the highest since the series began in 2000/01.”
- Average bonus per employee: £1,500.
- Average bonus per employee in banking/finance: £13,300
- Bonuses were at 24.2% of all pay in finance/insurance, up from 23.6% the previous year. (Bonuses percentage peaked in April 2007 at 33.9%, just prior to the crash.)
- That would put total average finance/insurance pay at around £54,508 ($90,000) per person.
- It’s still awful being a teacher or a health worker: “The lowest bonuses per employee were paid in the education and health and social work industries, where the bonuses per head figures were negligible.”
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