Pay in financial services

Higher-end pay rises and record bonuses but gender pay gap persists

In this article we take a look at pay developments in the finance sector over the past year. Spring 2007 brought the highest volume of bonus earnings ever recorded in the sector and the bonus season based on 2007 performance will soon be underway. The crisis in the credit markets however means bonus payouts are expected to be much lower than last season. Pay reviews in the sector were above the level for the whole economy throughout 2007, with over two-fifths of finance industry awards at or above 4 per cent. The sector continues to have the widest gender pay gap at 40.3 per cent and almost no progress in narrowing the gap has been made.

……more in IDS Pay Report 991