€500k salary cap for bankers to be reviewed

The industry has complained that the cap is preventing the banks from hiring skilled staff

23rd November, 2021
€500k salary cap for bankers to be reviewed
Paschal Donohoe, the Minister for Finance, indicated that he still supported the current cap on bankers’ pay and that he had no plans to change it. Picture: Brian Lawless

The government’s new banking review is going to examine the controversial €500,000 salary cap for bankers in bailed out banks.

The terms of reference of the review state that it will be able to look at “operational issues arising from the difficulties with staff recruitment and retention”.

The Banking and Payments Federation Ireland has complained that the cap is preventing the banks from hiring skilled staff, particularly those in the...

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