Barclays is considering raising investment bankers’ base salaries to avoid the worst of the City regulator’s crackdown on bonuses.
Barclays is considering raising investment bankers’ base salaries to avoid the worst of the City regulator’s crackdown on bonuses.
Several City firms have already doubled base pay for select bankers to compensate for smaller cash bonuses. Barclays, which employs 21,900 investment bankers who are on course for an average of £200,000, revealed yesterday it is reviewing its remuneration policy, with base pay “under consideration”.
Rich Ricci, co-chief executive of Barclays Capital, the investment bank, confirmed: “We are looking at salaries. We haven’t done anything yet.”
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