Finance employees expect bigger bonuses this year
There have been curbs to bonus payments in Europe of late, however, the senior financial officials are seeming at an advantage as their bonuses are expected to be 21 percent higher than the previous year, reports a survey.
Having conducted the survey from Oct 16 to Nov 4, Astbury Marsden said that it has contacted about 27,000 job candidates and clients out of which 1,500 responses were received. About 40 percent of bankers and financial services personnel said that they expected a higher bonus this year and the same figure for last year was only 34 percent.
Astbury Marsden director Adam Jackson said, “However, we have also seen a small increase in those who expect to see a reduction in their bonus. With a decrease in those who are ‘unsure,’ this could indicate a more realistic perspective as compensation becomes more stabilized following increased regulation and a settling of the market.”
However, at least 16 percent of the participants said that they expected their bonus to decrease this year while only 13 percent said so last year. A European law that was passed last year states that the bonuses can be only an equal amount of their annual salaries of financial services personnel and for certain other jobs and if shareholders approve, they may be entitled to a bonus amount of twice their annual salaries and not more than that. This will apply for all the bonus amounts given for their performance in 2014.