ECB data reveals growth in €1M+ earners in EU banks; Romania has four, all men.

The European Banking Authority (EBA) published its 2024 Dashboard on high earners. The data shows an increase in the number of individuals in EU banks earning more than EUR 1 million. The Report also confirms that gender imbalance persists, with high‑paid positions still predominantly held by men in both credit institutions and investment firms.

In 2024, the total number of high earners increases at 2 554 (from 2 343 in 2023). In credit institutions, the number increased by 7% (from 2 122 in 2023 to 2 266 in 2024). In investment firms, it rose by 30% (from 221 in 2023 to 288 in 2024).

This development is mainly linked to i) strong profitability supported by higher interest income and active trading, alongside a rebound in advisory and capital markets; ii) favourable economic conditions, including elevated interest rates and renewed M&A activity; and iii) competitive pay adjustments justified by the firms as warranted to attract and retain talent.

The weighted average ratio of variable to fixed remuneration for high earners in credit institutions increased to 98 %. For investment firms, the average ratio increased to 359%. The cap on variable-to-fixed remuneration laid down in the Capital Requirements Directive (CRD) has not applied to investment firms since 2021.

France leads the ranking with 561 high earners, followed closely by Germany (553) and Italy (462), while Romania sits near the bottom with four, alongside Bulgaria (3), Slovakia (2) and Hungary (1).

In line with the findings of the “EBA Report on the benchmarking of diversity practices and the gender pay gap”, data show that a persistent gender imbalance exists also regarding the staff receiving a high level of remuneration. A significant majority of high earners are male: 89.1% (2023: 89.8%, 2022: 90.9%) in credit institutions and 96.9% (2023: 95.0%, 2022: 96.6%) in investment firms. Achieving gender balance—particularly in senior and higher-paid positions—remains a priority across the financial sector.