Almost half of UK bankers expect pay rise

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About 41% of U.K. bankers expect a pay increase this year as Britain’s economy recovers, according to a survey by Ernst & Young.

Bloomberg News reports that some 80% of participants expect a better economic development in the second half, with 71% signalling optimism that the performance of their bank will improve, the study by the accounting firm showed. 49% of bankers forecast an increase in headcount.

Some of Britain’s biggest banks have been criticized by lawmakers over pay, and shareholders of HSBC, Barclays and Standard Chartered registered protests at annual meetings this year. Lenders have argued they have to offer competitive packages to attract skilled employees.

'After so much negative coverage of recent pay awards, bankers in the U.K. are acutely aware of the sensitivity of this issue', Steven Lewis, lead global banking analyst at Ernst & Young, said in the statement. 'However, banks operating in London compete in a global market for talent'.

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

U.K. Bankers Anticipate a Pay Rise, Ernst & Young Says

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