More than 3,500 UK bankers paid €1m a year, says EU report

[simvastatin]

https://www.theguardian.com/business/2019/mar/11/bankers-pay-uk-european-banking-authority-report?CMP=Share_iOSApp_Other

 

More than 3,500 bankers in the UK are paid more than €1m (£850,000) a year, according to pay and bonus details published by the European Banking Authority.

The EBA’s latest report on high earners shows 3,567 UK-based bankers collected more than €1m in 2017. Their average pay, skewed by huge payouts at the top, was €2m, and together they took home nearly €10bn. 

[Mikhail Liebenstein]

I can believe this.

I'm clearing £240k this year and I'm not at a bank, though I do supply to banks.

[Fromage Frais]

Is that all? there are 17,000 + properties on rightmove in and 40 miles from London priced over 1 million.

There are 2,500 over 2.5 million.

Work harder lads we have near 100 1 million + properties in Norfolk we need shifting.  The local youngsters are just too feckless

Edited March 11, 2019 by Fromage Frais

[Fromage Frais]

32 minutes ago, Mikhail Liebenstein said:

I can believe this.

I'm clearing £240k this year and I'm not at a bank, though I do supply to banks.

Thank you for your £90,000 + tax and near 10k NI !



 

Edited March 11, 2019 by Fromage Frais

[cool_hand]

39 minutes ago, Mikhail Liebenstein said:

I can believe this.

I'm clearing £240k this year and I'm not at a bank, though I do supply to banks.

if you bank that sort of cash WTF are you doing on HPC?

[zugzwang]

Ten years on from the GFC and the parasite is still bleeding the host to death.

Tick tock.

 

[hotblack42]

2 minutes ago, cool_hand said:

if you bank that sort of cash WTF are you doing on HPC?

HPC is an excellent source of aggregated info. especially if you have diverse, high risk interests ?

[scottbeard]

1 hour ago, Fromage Frais said:

Is that all? there are 17,000 + properties on rightmove in and 40 miles from London priced over 1 million.

There are 2,500 over 2.5 million.

Work harder lads we have near 100 1 million + properties in Norfolk we need shifting.  The local youngsters are just too feckless

Most people don't buy a house costing less than 1 year's salary though - these €1m+ bankers will be buying €3-4m houses ?

[Mikhail Liebenstein]

10 hours ago, cool_hand said:

if you bank that sort of cash WTF are you doing on HPC?

Why not? I didn’t always earn that and still have a mortgage, and i’ve on HPC for a decade.

Also contrary to popular belief that sort of money doesn’t go that far. Yes, it’s a good standard of living, but there is a lot of tax and all allowances are lost.  

[lombardo]

Is it sustainable? What if QE money eventually stops working? It may take 20 years or whatever.

[Captain Kirk]

11 hours ago, Mikhail Liebenstein said:

I can believe this.

I'm clearing £240k this year and I'm not at a bank, though I do supply to banks.

 

The closer you get to where the money is created, the higher your income from what I can tell.

[simvastatin]

55 minutes ago, Captain Kirk said:

 

The closer you get to where the money is created, the higher your income from what I can tell.

A very succinct observation 

[Dorkins]

12 hours ago, scottbeard said:

Most people don't buy a house costing less than 1 year's salary though - these €1m+ bankers will be buying €3-4m houses ?

Yes, which is why £240k pa is comfortable but not rich beyond dreams of avarice as it might seem to somebody earning £24k pa. £750k-£1m gets you a pretty ordinary house in London.

Edited March 12, 2019 by Dorkins

[scottbeard]

2 hours ago, Captain Kirk said:

The closer you get to where the money is created, the higher your income from what I can tell.

The best summary I heard is "the more money you get to circulate, the more you get paid".

That explains why bankers are highly paid, but also people nothing to do with finance such as actors, pop stars or Premier League footballers.  It also explains why people in very valuable care professions get paid peanuts.

[longgone]

15 hours ago, cool_hand said:

if you bank that sort of cash WTF are you doing on HPC?

rub salt into the wounds of the paupers ? 

[Fletcher]

Phuurk me, I'm on 40k and I'm a software developer...I consider myself lucky to have one of the "good" jobs. But it's phucking difficult and hard phucking work. And that pays 40k. In London.

What the phuck bankers do to deserve anything north of that I cannot phucking imagine.  What I imagine they do is go to endless phucking meetings talking bullocks for hours and then get the phucking Devs to implement what they finally decide after talking about it for weeks on end. 

 

Edited March 14, 2019 by Fletcher

[LondonBound]

Those 3,500 will pay over $1.4bn in tax and NI. More than paid by 250,000 people on an average salary. 

I hope the chancellor sends them each a Christmas card!

[LondonBound]

On 12/03/2019 at 12:16, scottbeard said:

The best summary I heard is "the more money you get to circulate, the more you get paid".

That explains why bankers are highly paid, but also people nothing to do with finance such as actors, pop stars or Premier League footballers.  It also explains why people in very valuable care professions get paid peanuts.

“If you want to get wet, stand next to a waterfall. If you’ve want to get rich, go into finance.”

[longgone]

4 hours ago, Fletcher said:

Phuurk me, I'm on 40k and I'm a software developer...I consider myself lucky to have one of the "good" jobs. But it's phucking difficult and hard phucking work. And that pays 40k. In London.

What the phuck bankers do to deserve anything north of that I cannot phucking imagine.  What I imagine they do is go to endless phucking meetings talking bullocks for hours and then get the phucking Devs to implement what they finally decide after talking about it for weeks on end. 

 

Because IT is held in high esteem that's why they put them next to the mop cupboard. 

[steve99]

On 11/03/2019 at 21:52, Mikhail Liebenstein said:

I can believe this.

I'm clearing £240k this year and I'm not at a bank, though I do supply to banks.

Banks who leach of the rest of us.  good luck for getting it, we all would if we could, but to keep it in context, from official figures:

  The average pay for a Neurosurgeon is £99,054 per year.  

  Im sure a banker is of more worth the the people of the country than the rare skills of a neureosurgeon.

[steve99]

On 14/03/2019 at 07:27, LondonBound said:

Those 3,500 will pay over $1.4bn in tax and NI. More than paid by 250,000 people on an average salary. 

I hope the chancellor sends them each a Christmas card!

Still not the point is it,   the bankers ponce of society from top to bottom, the payback of a bit of it in tax does not justify nor sanitise what modern banking is about.  250,000 people on average salary are of far more import to the country and the people in every posible context than the deeds of the bankers nor indeed of the tax they pay.   This concept of the City of London paying more tax than the rest of us is a nonsense that needs to be examined in far more layers than it ever is,, they only get this much money by ticket clipping every single financial transaction in the country, combined of course with their international money laundering operations.

[steve99]

On 12/03/2019 at 12:05, Dorkins said:

Yes, which is why £240k pa is comfortable but not rich beyond dreams of avarice as it might seem to somebody earning £24k pa. £750k-£1m gets you a pretty ordinary house in London.

 

In whatever context you see it, it is still in the .1% and therefor is 'rich beyond your wildest dreams' .   A year on the minimum wage would convince you of that for the rest of your life. I do have some old friends on this sort of money and they absulutely believe that they are 'in the middle'   and each time I have to correct them and point out that the 'middle' gets paid around £22kpa.  Not £200k+++.. I also have a brother in law and his wife who were  p*ss*d off just making £120kpa and wanted to make some 'real money' for a change.     since being divorced their business fell apart and they are both now making 'real' money ie the min wage in one case and unemployed in the other... the magic gene gave them their wish.

[Dorkins]

2 minutes ago, steve99 said:

In whatever context you see it, it is still in the .1% and therefor is 'rich beyond your wildest dreams' .

Income is not the same as wealth. After 40 years of insane asset price inflation, being in the top 0.1% by income is okay but it's the top 0.1% by wealth who are society's real winners.

[debtlessmanc]

meanwhile, more than 10000 EU officials earns more than £140k p.a. i presume this report on the bankers is some form of jealousy from the the poor old EU officials?

 

https://www.telegraph.co.uk/news/worldnews/europe/eu/10847979/10000-European-Union-officials-better-paid-than-David-Cameron.html

edit to add actually as the exchange rate as plummeted that is £160K p.a. even if they have not all had payrises

 

Edited March 15, 2019 by debtlessmanc

[longgone]

42 minutes ago, steve99 said:

 

In whatever context you see it, it is still in the .1% and therefor is 'rich beyond your wildest dreams' .   A year on the minimum wage would convince you of that for the rest of your life. I do have some old friends on this sort of money and they absulutely believe that they are 'in the middle'   and each time I have to correct them and point out that the 'middle' gets paid around £22kpa.  Not £200k+++.. I also have a brother in law and his wife who were  p*ss*d off just making £120kpa and wanted to make some 'real money' for a change.     since being divorced their business fell apart and they are both now making 'real' money ie the min wage in one case and unemployed in the other... the magic gene gave them their wish.

human nature does not appreciate what they have and looks down on others who don`t even have what they do to begin with. 

i had a ex friend who`s family turned over 25m a year and all his life was about was how to make the little people feel small. pathetic really.  Although he felt hard done by as others in the construction trade turning over 100m plus.