Barclays is set to reveal that up to 600 of its staff are paid more than £1m in a detailed disclosure next week about the earnings of its 140,000 employees.
The Guardian reports Barclays will disclose how much is earned by the highest and lowest members of the bank’s staff as part of its annual report. Analysts have told the newspaper they estimate as many as 600 Barclays staff could take home more than £1m.
The move has been led by Barclays chairman Sir David Walker, who replaced Marcus Agius following the Libor rigging scandal in June.
Walker was commissioned by the Labour government in 2009 to review banking standards and called for pay to be disclosed in bands above £1m. He told the Parliamentary Commission on Banking Standards in September that the pay of the top 50 to 100 bankers should be disclosed.
Barclays is likely to calculate total take-home pay based on salaries, annual bonus and the value of any long-term incentive plans.
The newspaper says Royal Bank of Scotland is also considering whether to provide more details about pay for 2012.
Barclays said 238 staff were paid an average of £1.2m in 2011, while 386 RBS staff were paid an average of £820,000. A total of 192 HSBC staff were paid £1m or more in 2011.