Super salaries, 351 bankers in Italy earn more than one million euros – Corriere.it
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There are almost 2,000 bankers in the Eurozone who earn more than one million euros: a new record, in the wake of the good performance of the institutions, especially in the area of investment banking, trading and sales. The data, referring to 2021, was collected by the European Banking Authority. In detail, the number of bankers with salaries above one million euros increased by 41.5% from 1,383 in 2020 to 1,957, the highest value since the surveys began in 2010. Among the reasons for the boom, explains the EBA in its report, there is also the reallocation of personnel to EU activities in the context of Brexit.
Italy in third place in Europe
In the ranking by country, Italy is in third place with 351 millionaire bankers, behind Germany (598) and France (371). In our country, bankers with at least one million euros have increased by almost 88% compared to 187 in 2020. The EBA tables show that 277 earn between 1 and 2 million euros, 43 between 2 and 3 million, in 17 between 3 and 4 million, 9 between 4 and 5 million, one between 5 and 6 million, one between 6 and 7, two between 7 and 8 and one between 9 and 10.
The surge in millionaire bankers comes after a 2020 that saw the European number drop from 1,444 to 1,383, as a result of the moral suasion exercised by the EBA and the ECB, which had asked banks not to exceed in bonuses and compensation in the light of the great uncertainty triggered by the Covid pandemic.
The ratio between variable and fixed remuneration increased on average, at EU level, from 86.4% in 2020 to 100.6% in 2021. Since this is a part of the paycheck linked to the performance of the banks, the good financial performance of the institutions drove the increase in some bonuses.
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