Barclays Boosts Executive Pay and Bonuses, Signaling a New Era in UK Banking
In a landmark decision, Barclays has increased its half-year bonus pool to £675m for the first time since 2021, indicating a pivotal shift in executive pay practices within UK banking. This increase comes after the bank formally scrapped the EU bonus cap, allowing significant earnings for high-performing bankers. The previous bonus pool stood at £665m in 2023, showcasing a growing emphasis on rewarding banking talent.
With plans to further build this bonus pool until the year's end, Barclays signals that staff might now earn up to 10 times their salary, marking a transformative period for banking rewards. This strategic move not only elevates executive compensation but also enhances competitiveness in the banking sector.
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