Allowances and the bonus cap regulation
Note: All allowances included in this report have been announced and/or paid during the 2014 bonus season up to 12 February 2014.
Universe: We have examined data from 190 bank employees at Director and MD level in IBD & Markets roles in Europe. Out of those, 36 employees were paid an allowance in 2014
Highlights:
- Allowances are widespread with 17 different institutions paying allowances
- The majority have been paid by UK banks in London
- Wide spread in terms of employees business activities
- Allowances currently only represent a small proportion of base salary
Directors and MD in IBD & Markets in Europe - 2014 season | Number | % |
---|---|---|
Directors and MD who have received an allowance | 36 | 19 |
Total allowance pool | Number | % |
---|---|---|
Directors | 27 | 75 |
MD | 9 | 33 |
Employees receiving allowances per location | Number | % |
---|---|---|
London | 19 | 54 |
Zurich | 7 | 20 |
Paris | 6 | 17 |
Frankfurt | 1 | 3 |
Madrid | 1 | 3 |
Stockholm | 1 | 3 |
Geneva | 1 | 3 |
Employers paying allowances | Employees | % |
---|---|---|
UK Banks | 12 | 34 |
Swiss Banks | 8 | 23 |
French Banks | 7 | 20 |
Spanish Banks | 2 | 6 |
US Banks | 2 | 6 |
Swedish Banks | 2 | 6 |
Japanese Banks | 2 | 6 |
German Banks | 1 | 3 |
Allowance range as percentage of salary | Number | % |
---|---|---|
0-10% of salary | 29 | 83 |
10-20% | 4 | 11 |
20-30% | 2 | 6 |
Bonus as a percentage of salary | Number | % |
---|---|---|
Less than 2x base salary | 35 | 97 |
Less than 1x base salary | 32 | 89 |
More than 1x base salary | 4 | 11 |
More than 2x base salary | 1 | 3 |
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