Advertisement
The VICE Guide to Right Now

Europe's Highest Earning Banker Just Raked in a £12.5 Million Bonus

According to figures released by the European Banking Authority, the fat cats are getting even fatter than we thought.

by Katrina Hardy
08 September 2015, 2:55pm

Image via Flickr user epSos.de

READ: Suiting Up, Crusting Down – Living as a City High-Flyer for a Week

Figures released today by The European Banking Authority reveal the highest earning banker of 2013 received a whopping £12.5 million bonus – enough to buy 62 new Ferraris, or 200 kilos of cocaine at street value, or one house in Mayfair.

While city boys are known for raking in revoltingly high bonuses, it seemed that from 2013 this might change. With many bankers waving farewell to uncapped bonus earnings, new European Union legislation was passed dictating that no individual salary would be able to exceed 200 percent.

Having neatly sidestepped the regulations, the £12.5 million bonus-earner's original earnings came in at £800,000, with reports by Business Insider noting that the majority of his 1,567 percent extravagant payout was "commission based on performance".

However, before we all drown in envy, the majority of this bonus did remain in share awards, and the European Banking Authority stated that just over half of it was postponed for over three years. So NBD, right?

Tagged:
Money
News
european union
finance
yuppies
The City
vgtrn
bankers
fat cats
banker bonus
European Banking Authority