The European Banking Authority (EBA) published today its Report on high earners for 2021. The analysis shows a significant increase of the number of individuals working for EU banks and investment firms who received a remuneration of more than EUR 1 million. 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.
In 2021, the number of high earners receiving a remuneration of more than EUR 1 million increased by 41.5%, from 1 383 in 2020 to 1 957 in 2021. This is the highest value for the EU27/EEA since the EBA started the data collection in 2010.
The weighted average ratio of variable to fixed remuneration for all high earners increased from 86.4% in 2020 to 100.6% in 2021. As variable remuneration is linked to the performance of the institution, business line and staff, the good financial performance of the institutions drove the increase of some bonuses. Other relevant factors supporting this trend may be identified in the relief of relevant COVID 19 restrictions and in the continuation of relocation of staff to the EU activities in the context of Brexit.
For more details: EBA REPORT ON HIGH EARNERS – DATA AS OF END 2021
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
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