Bonuses surge for top traders at EU investment firms after cap is lifted

Bonuses at EU specialist investment firms have surged since they were exempted from the bloc’s bonus cap rules, with average bonuses for key staff reaching €1.5mn in 2022 and €1.15mn in 2023, exceeding six times their fixed pay. The European Banking Authority (EBA) highlighted a gender pay gap, noting women earned 24.5% less than men at deposit-taking banks and 32% less at investment firms, with calls for better analysis and action to address this disparity. While bonuses at investment firms increased, overall bonuses remained below the cap, averaging 47% of fixed pay in 2023.

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