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In Italy the number of millionaire bankers is increasing.  They earn an average of 1.7 million a year.  Rewards have nothing to do with results

In Italy the number of millionaire bankers is increasing. They earn an average of 1.7 million a year. Rewards have nothing to do with results

We will have to wait until next year to see if the pandemic has any effect on the super salaries of Italian bankers. the data Released today by the European Banking Authority/Eba) it actually stopped in 2019. Until then, huge salaries were going up, especially in Italy. It should be noted that 2019 was a good year for the major Italian banks with shares of Unicredit, Intesa Sanpaolo, Banco Bpm and others, champions of double-digit increases. Even Mps closed the year in increments of more than 30%. Of course, the year was marred by the Carige case, which was suspended from negotiations after the commissioner’s decision by the European Central Bank, but in the overall budget for this year the Genoa Institute looked more like a rotten apple. In Italy, “high-income earners”, that is, executives who earn more than 1 million euros annually, by 17% Moving from 206 to 241 who shared a salary of 419 million euros. At the European level, on the other hand, banking millionaires have remained “largely stable”, increasing at a modest rate 0.5% A 4.963, Of which 70.9%, equivalent to 3,519, are concentrated in the United Kingdom. The rise of bankers to six zeros registered in Italy is The most consistent of the major European countries.

It’s higher than what has been observed too In Germany (+9.3% up to 492) it is in France (+15.4% to 270) It compares with the decline in Great Britain (-2.6% to 3519), which puts our country in Fourth place in the number of “high income earners”, In front of 163 Spanish leaders. “The rise of ‘high-income earners’ in continental Europe is the result of the influence of Transfer of personnel from Great Britain to the 27 countries of the European Union As an effect of preparing for Brexit,” notes the EBA. “In addition, for some banks, good overall financial results, particularly in corporate banking, and ongoing restructuring and consolidation, which led to higher than normal payments, played an important role. “

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the average wage of Italian bankers, Equal to 1.74 million eurosShe gets along with her colleagues from France and Germany but Less than Spain (2.3 million) and Great Britain (2.07 million). Overall, between 2010 and 2019, EU banks developed more than 1,500 new six-zero payment coupons for their senior managers (+42%, from 3,427 to 4,963). More than half of the millionaire’s checks (2,535) end up in the pockets of people who work at investment banks.
Most bankers earned salaries between 1 and 2 million euros. Highest pay finished to a banker from the city totaling 64.8 million euros, The highest offset recorded since 2014, when the EBA began segmenting data by bands. happening variable part of fixed salary in 2019 129%, down from 139% in 2018. The correlation between reward weight with respect to ROE (return on capital) is defined as “moderate” by the EBA and “even slightly negative” with respect to profitability.