More British bankers earn 1m euros than in rest of EU: study

European authorities are seeking to cap bankers’ pay, in the belief that it will curb excessive risk-taking. Photo: AP

More bankers in Britain earned 1 million euros (HK$10.1 million) in 2011 than in the rest of the European Union combined and would easily breach a planned cap on bonuses, according to data from the bloc’s banking regulator showed.

Tuesday, 16 July, 2013, 10:42am 1 comment

Monetary authority chief's salary tops HK$9.4m

Norman Chan saw his bonus rise 20 per cent. Photo: Dickson Lee

While Norman Chan Tak-lam's basic salary remained at HK$6 million, the raise mainly came in the form of a 20 per cent increase in variable pay, an amount that depends on individual performance and is equivalent to a bonus at private firms.

27 Apr 2013 - 5:42am 1 comment

The cost of revealing your previous salary

Illustration: Emilio Rivera

"What is your current or last salary?" The question makes many job seekers cringe yet it inevitably comes up in interviews.

11 Mar 2013 - 4:26am

The new no-business, no-bonus reality

Disappointing results for 2012 are forcing many mainland securities firms to pare bonuses. Photo: AP

Mainland securities firms, many of which expanded rapidly in the past few years, are being forced to follow their foreign competitors by tightening up on hiring and bonuses after a disappointing year.

22 Feb 2013 - 12:06pm

Minimum wage to rise 19pc in Guangzhou

The latest wage adjustment would bring the monthly salary of a general worker in Guangzhou to 1,550 yuan. Photo: EPA

The provincial government's announcement yesterday startled some local manufacturers who expected the rate to be about 15 per cent, but others said the increase would have little effect as they had already been paying more than that.

7 Feb 2013 - 5:16am

Building up steam

The difference between the first half of the year and the revival during the second half has generated momentum in the banking and finance sector and, with it, an upswing in recruitment activity. However, what effect is hiring activity having on salary levels in the notoriously tight talent pool market?

7 Nov 2009 - 12:00am

Panel intervenes in pay row

An independent panel on lawmakers' salaries will step into a pay row between the Government and legislators.

The Independent Commission on Remuneration for Members of the Executive Council and the Legislature will be consulted on whether lawmakers should be paid after their terms end in June.

11 Feb 2000 - 12:00am

Former Inchcape chief gets GBP1.36m

Former Inchcape chief executive Charles Mackay is to get GBP1.36 million (about HK$15.87 million) as compensation for loss of office after he was made to leave the motor, marketing and insurance group last month.

In its 1995 annual report and accounts released yesterday, the firm said Mr Mackay was the highest paid director, earning GBP397,000 in salary and other benefits.

1 May 1996 - 12:00am

Pay commission to be set up

AN independent standing commission will soon be appointed by the Governor to conduct periodic reviews of legislators' pay and to arbitrate in disputes over reimbursements.

The Director of Administration, Richard Hoare, said the commission would be set up in the next month or so and have no more than six members.

8 Sep 1994 - 12:00am