Senior staff at banks like barclays and BNP could be in for a $100k increase in fixed pay

Banks need to increase their fixed compensation. The European Union?s bonus cap comes into effect in January 2014 and banks are running out of time to adapt to its stipulation that bonuses must not exceed250% of fixed pay.Salary benchmarking firm Emolument has conducted some research suggesting banks need to make some fairly serious adjustments to pay for a few of their top-level staff if they?re to adhere to the EU?s requirements.

This article was published in efinancialcareers, 31st October 2013