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


  • 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 seasonNumber%
Directors and MD who have received an allowance3619

Total allowance poolNumber%
Directors27 75
MD9 33

Employees receiving allowances per locationNumber%

Employers paying allowancesEmployees%
UK Banks1234
Swiss Banks823
French Banks720
Spanish Banks26
US Banks26
Swedish Banks26
Japanese Banks26
German Banks13

Allowance range as percentage of salaryNumber%
0-10% of salary2983

Bonus as a percentage of salaryNumber %
Less than 2x base salary3597
Less than 1x base salary3289
More than 1x base salary 411
More than 2x base salary13


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