Nearly 2,000 EU bankers earn more than €1 million per year by 2021 | Economie

Working in banks and investment firms is paying off, according to figures for high earners in the EU. Almost two thousand employees earned more than 1 million euros in 2021. A few even exceeded 10 million. This is evident from an overview of the European Banking Authority (EBA).

In 2021, 1,957 people in banks and investment companies received €1 million or more. This concerns total remuneration, including, for example, bonuses and pension contributions.

The number is much higher than the previous year and is even the largest since EBA began being measured in 2010. The increase is due in part to the good performance of banks and investment firms. The variable pay of senior managers is highly dependent on the performance of the company in which they work. Another factor is that the fixed part of salaries has increased.

Brexit also plays a role. The United Kingdom left the European Union a few years ago, and since then many companies have moved their activities from England to the European mainland. This means that many well-paid bankers no longer work in London, but in Frankfurt, for example. In the past, the British were at the top of this ranking.

More than a quarter (589) of high-income earners work in Germany. France and Italy took the second and third places, respectively. The largest revenue comes from Spain, with damages of between 14 and 15 million euros. It is not clear who this is or what company the person in question works for.

The Netherlands is in seventh place. In our country, 46 employees of the financial sector earn more than 1 million annually. The largest revenue earned between 3 and 4 million euros.