Tuesday January 21, 2020

State report to suggest variable pay for junior bankers

Department of Finance ordered research in 2018 after wave of exits from banks prompted fears about retaining key staff

Ian Guider

Markets Editor

@ianguider
9th June, 2019
Minister for Finance Paschal Donohoe: was assured by departing Central Bank governor Philip Lane that allowing variable pay would not damage the sector Picture: RollingNews

A government-commissioned report on the pay of bankers is set to recommend a form of variable pay, including share options, for junior staff.

The report by headhunters Korn Ferry was ordered by the Department of Finance last year in the wake of a wave of defections from banks, including that of AIB chief Bernard Byrne.

The report is expected to be published in the coming weeks. Several banking sources expect it will say that to...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

He was once the garlanded saviour of Nissan. So how did Carlos Ghosn find himself a fugitive after one of the most glittering careers in the history of the car industry?

Barry J Whyte | 2 days ago

Our goal in the west should be to encourage the country’s leaders to make its economy more competitive, open and transparent

Vincent Boland | 2 days ago

Inflation figures do not measure the cost of living, and in our hyper-globalised economy it’s not always easy to count what’s real and what’s not

Aidan Regan | 2 days ago