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Bank charges: Barclays report on staff earnings

Barclays will be revealing details on the annual earnings of its 140,000 employees.

It is expected that around 600 employees at the bank earned over £1 million in 2012.

This disclosure will be part of a shake-up of the way that Barclays reports on pay. It is expected that rival banks will follow suit.

Chairman of Barclays, Sir David Walker, has directed this new way to report on pay. He was commissioned by Labour in 2009 to reveal the amount of pay for employees that earn over £1 million in their annual salary.

Experts fear that this disclosure on employee earnings could cause fresh arguments over how much bankers are awarded in bonuses.

Banker bonuses have been a central point of concern within the European Union as it tries to implement standardised banking regulations to reduce the risk of a future financial crisis. It has been suggested that a cap should be placed on banker bonuses so that it does not exceed their earnings. The UK has tried to block this move.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801547956-ADNFCR



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