UK bonuses close to pre-crisis peak

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U.K. bonuses rose in the last fiscal year and are now just 0.1% below their peak before the financial crisis in 2008, according to new data from the statistics office.

Bloomberg News reports that bonus payments in the 12 months through March amounted to $66bn, up 2.7% from a year earlier, the Office for National Statistics said on Wednesday.

However, bonuses in the finance and insurance industry remain well below their pre-downturn levels, according to the report.

That may partly reflect changes in pay structures in the industry, as banks boost base salaries to avoid regulatory limits on bonuses and tougher claw-back rules.

To access the complete Bloomberg News article hit the link below:

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