FINANCIAL SERVICES
Average pay of top bankers in the US and Europe dropped by a 10th last year | FT annual research
Average chief executive pay at 15 leading US and European banks fell 10% last year, according to the Financial Times.
The analysis of total pay awarded to the heads of 15 banks, including JP Morgan’s Jamie Dimon and Royal Bank of Scotland’s Stephen Hester, was exclusively compiled for the FT by Equilar, a US pay research group.
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The FT research shows that bank chiefs took home $11.5m on average in 2012, “after banks bowed to investor and regulatory pressure”. The analysis by Equilar adds up base salaries, cash bonuses and certain other benefits. It also includes option and stock awards that were granted in 2012, some of which were to reward performance in previous years.
The FT says: “It shows that performance-based cash and stock awards fell in tandem as regulators and investors clamped down on bonuses.”
Forces conspire to curb bank chiefs’ pay - FT annual research: http://t.co/HezymYLHGq via @FT
— e-reward.co.uk (@ereward) June 26, 2013
Average pay of top bankers drops 10% - FT annual research: http://t.co/1Uw0zJzTCm via @FT
— e-reward.co.uk (@ereward) June 26, 2013
Bank chiefs’ pay in 2012 - FT annual research: http://t.co/JA5d2aP6WJ via @FT
— e-reward.co.uk (@ereward) June 26, 2013