FSA wages rise 22% in five years
Share
Average salaries for FSA staff have risen 22 per cent over the last five years to £51,232.
Figures from the regulator published in the Financial Times show that excluding directors FSA staff were paid an average of £51,232 for the year to March 2010, up 6 per cent from 2009.
Senior management wages have risen 14 per cent since 2005/06, from £206,391 to £236,950 in 2009/10.
The enforcement division saw the largest jumps in salary, with average salaries up 26 per cent from 2005 to £53,207.
FSA chief executive Hector Sants told the FT: “These figures reflect our tougher approach both to enforcement and supervision, which we have underpinned by bringing in more experienced people. It also reflects our success in controlling costs in the non-regulatory areas of the business.”
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
View results 10 per page | 20 per page | 50 per page
Readers' comments (48)
Andy Farrow | 3 Mar 2011 11:02 am
This is cost control!!!
I hate to see the increases if they hadn't controlled costs.
Our money being wasted yet again
Unsuitable or offensive? Report this comment
ian marsh | 3 Mar 2011 11:04 am
'experienced'staff?
When the Governor of the bank of England talks about 'young inexperienced people' attending meetings,are we talking about the same business? The FSA!
It seems they are`c well on course to be a 'Public Sector employer'
May we all be saved by a pruning of Public sector wages and personnel.
Unsuitable or offensive? Report this comment
Anonymous | 3 Mar 2011 11:08 am
Greedy pigs.
Unsuitable or offensive? Report this comment
The Gutless Prophet | 3 Mar 2011 11:09 am
Considering this article was written to generate a negative reaction (please see Daily Mail for other examples) I thought I could go first..
This is disgraceful! The FSA are clearly lining their own pockets. Lets stick it to them! Who is with me?
Unsuitable or offensive? Report this comment
Anonymous | 3 Mar 2011 11:09 am
What a deserving bunch (not!) It's called pigs at the trough!
Unsuitable or offensive? Report this comment
Anonymous | 3 Mar 2011 11:12 am
Where is it going to end we have a regulator who answers to no one, is soon to become bigger than the IFA industry itself, does very little to protect the ordinary consumer, allows Banks to rule the very core of its heirachy, and with RDR fundamentally illegal it still managese to employ more staff each year and secure wage rises most sectors havent witnessed in years
Unsuitable or offensive? Report this comment
Anonymous | 3 Mar 2011 11:13 am
And we all thought the MP's were bad. This is a gravy train at its worst. Whilst every IFA is cutting back because of high fees the FSA is giving good rises. Disgusting
Unsuitable or offensive? Report this comment
Anonymous | 3 Mar 2011 11:14 am
Seriously guys - If you were at the FSA, you'd be lapping up those wages. These are comparatively reasonable and, don't forget, an average.
The article doesn't' even state what type of Average.
Is the entire MM readership subject to such knee-jerk hypocrisy?
Unsuitable or offensive? Report this comment
Richard Wilson | 3 Mar 2011 11:15 am
FSA wages rise 22%
IFA's earnings down 22%
Status Quo achieved..............................
but that does not account for the increased time reading page after page of utter drivel or filling out form after form these moronic cretins create that are decimating our industry.
Equal Rights...........Bah
Unsuitable or offensive? Report this comment
Anonymous | 3 Mar 2011 11:16 am
22% rise for what exactly? Why do I have to continually sit professional exams to prove my competence, when the FSA seem to be able to screw up without need to prove their own incompetence.
Unsuitable or offensive? Report this comment