The financial crisis has been “little more than a blip” for London bankers who were being paid more three years after it hit than before and were more likely to be employed than other workers. The financial sector has proved remarkably resilient with wages in the City rising, while other workers saw pay fall between 2008 and 2011, according to research from the London School of Economics.
London’s finance workers took home 14.2 per cent more in salary and cash bonuses for 2011 than they did in 2008. The top 10 per cent of bankers saw their wages rise by an average 8.6 per cent over the three years, more than the 2.3 per cent rise for the other top 10% of workers.
Meanwhile, the rest of us got a 3.7 per cent rise – a real terms fall.
London’s finance workers took home 14.2 per cent more in salary and cash bonuses for 2011 than they did in 2008. The top 10 per cent of bankers saw their wages rise by an average 8.6 per cent over the three years, more than the 2.3 per cent rise for the other top 10% of workers.
Meanwhile, the rest of us got a 3.7 per cent rise – a real terms fall.
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