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Bank Charges Public Knowledge Of Pay Driving Up Bankers' Salaries
Bank Charges Public Knowledge Of Pay Driving Up Bankers' Salaries
The disclosure of salaries has led the banks to increase the salaries of their employees as competition has increased. Most banks want to look aggressive and competitive when it comes to salaries of their employees.
London,
London,
United Kingdom
(pr4links.com)
18/09/2010
"The growth in the salaries hasn’t just been for the top end executives of the banking sector but for all the employees even at entry levels. Banker bonuses have shrunk and are strictly related to bonus these days."
FOR IMMEDIATE RELEASE
London, UK, 17th September, 2010: Banking executives are experiencing pay increases because of their disclosure, a director at RBS has said.
Penny Hughes, a non-executive director who is chair of the bank's remuneration committee, claims that the "transparency" of salaries has led to pay increases.
Herald Scotland quotes Ms Hughes as saying: "That whole disclosure thing, I would argue, has been part of the acceleration in pay.
"A chief executive looks around at the next company and nobody wants to be low quartile and that is part of the pressure. At the same time there is a war for talent. There is a market for talent."
It was believed that disclosure of pay would deter banking bosses from paying inflated salaries, but it appears the opposite has happened.
Ms Hughes's claims suggest that with pay being disclosed, banks are attempting to be more competitive in terms of recruitment.
According to the news provider, RBS chief executive Stephen Hester earns a basic salary of £1.2 million, which could amount to £10 million over three years should he meet his targets.
Belmont Thornton can help you make a PPI claim – Payment Protection Insurance Claim, or a credit card charges claim. For free PPI Claim advice call 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim pack or credit card charges claim pack.
”Banking executives are gaining increase in pay thanks to their disclosure. Banks are now trying to be more competitive with their salaries as it is now out in the open” says financial analyst Charles Baker who has decades of experience in the financial industry. He works as a financial analyst for PPI ClaimCompany.co.uk.
“The growth in the salaries hasn’t just been for the top end executives of the banking sector but for all the employees even at entry levels. Banker bonuses have shrunk and are strictly related to bonus these days.”
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PPI Claims Company is one of the premier PPI companies in the world. It has years of experience in this field and can help you with your payment protection claim using their no win, no service fee policy. To know more about loan protection claims and PPI claim back log on to http://www.ppiclaimcompany.co.uk/.
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