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Bonuses at RBS Dry Up in Wake of Recent Turbulence

On the back of concerns that RBS will struggle to retain senior management within its investment bank, the extent of bonus cuts within the bank has been uncovered.


RBS_Barclays_Investment_Banking_salary

390 million reasons to slash remuneration


With staff confidence at a low following the recent forced departure of former chief executive Stephen Hester, investment bankers within RBS are now seeing both their salaries and their bonuses slashed to cover the GBP 390 million fine that the bank was given for manipulating the benchmark Libor lending rate.


Barclays beat RBS on pay and bonus


Emolument.com, a bonus and salary data benchmarking site, has revealed that middle management at the beleaguered bank has been struck most harshly by the recent cuts.


Investment banking VP: Pay and Bonus


Typically, an investment banking VP at RBS earns a salary of GBP 102,895, with competitors such as Barclays paying to the tune of, on average, GBP 126,771. The average bonus for the same level at RBS is now only GBP 36,467, or 35.4% of salary. Investment bankers at Barclays typically receive a bonus closer to 75% of salary.


RELATED: UBS Boost Fixed Pay by Average of 9% (Report).

 

Emolument provides bonus and salary statistics based on data submitted directly by professionals like you. It is free, anonymous, and already a trusted tool for thousands of professionals worldwide. Are you paid enough? Click here to find out now.


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