State report to suggest variable pay for junior bankers

State report to suggest variable pay for junior bankers
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

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

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...

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