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Financial sector bonuses fall 9%

UK currency 20 notes money 480

Bonuses paid to financial services employees fell 9 per cent in 2011/12 to £13bn.

Figures from the Office for National Statistics show total bonus payments received across the whole economy between April 2011 and March 2012 reached £37bn, an increase of 3 per cent compared with 2010/11.

Despite the fall in the financial sector, bonuses for these employees made up 36 per cent of all bonuses in 2011/12, even though just 4 per cent of all employees work in the industry.

The ONS says the overall increase in bonus payments was driven by the rest of the economy, which experienced a 12 per cent increase in bonuses.

It says: “Overall, bonuses paid to employees in the rest of the economy in 2011/12 were almost as high as bonus payments in 2007/08, when bonus payments were at their peak.”

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