37% more, they say.
Bloomberg News reports that Managing Directors at large firms in the U.K. capital typically receive bonuses of $670,000 and base salary of $461,450, Emolument.com, a compensation research firm, said in a statement. Directors are paid bonuses of about £192,000 ($322,176) and fixed pay of £170,000 ($285,260), it said.
European regulators are preparing to outlaw bonuses that are more than twice fixed pay to prevent a repeat of the risk-taking that helped spark the 2008 global financial crisis. Banks are looking for ways to sidestep the European Union rules, which will apply to awards given in 2015 based on this year’s performance.
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