The highest paid Spanish bankers earned the highest average compensation in the EU in 2020

Published
08/01/2022 17:07

Updated
08/01/2022 17:07

The number of Spanish bankers with millionaire salary was reduced to a total of 128 in 2020compared to the 163 executives with a remuneration of at least one million euros in 2019, according to data published by the European Banking Authority (EBA), led by the Spanish José Manuel Campa.

In this way, after the exit of the United Kingdom from the EU, Spain was the fourth country with the highest number of bankers with millionaire salaries and also in which they reached the highest average, with 2,177 million, compared to the average of the average of 1,739 million for the whole of the EU. Thus, in the number of individuals with a salary of more than one million euros in 2020, Spain was only behind the 543 in Germany, as well as the 228 in France and the 187 in Italy.

In the EU as a whole, the number of bankers with millionaire salaries sank in 2020 to a total of 1,383, compared to 4,963 in 2019especially as a result of the United Kingdom’s exit from the EU, given that last year British entities monopolized 71% of the best-paid bankers in Europe.

Not taking into account the UK, compared to 2019, when the number of bankers with millionaire compensation was 1,444 peoplea decrease of 4.2% was registered, although the number increased by 4.4% compared to 2018, when 1,324 bankers with salaries above one million euros were registered.

In all European countries, the remuneration of the highest paid bankers in 2020 ranged between one million euros and 11.07 million euroswith an average remuneration of 1,739 million euros.

Average of 2,177 million in Spain

In the case of the best paid Spanish bankers, the average remuneration in 2020 was 2,177 million euros, compared to 2.3 million euros in 2019, but above the 2,097 million in 2018ranking only behind the 2,433 million received by the only Maltese banker included in the EBA study.

Behind the average remuneration of Spanish bankers Bankers in Ireland were the best paid, with an average salary of 2,153 million.

Although the European authority does not provide the identities of the bankers or the name of the entities that paid these emolumentsthe report does indicate that a total of 74 of the best paid banking professionals in Spain received between 1 and 2 million euros, while another 25 received less than 3 million euros and another 18, between 3 and four million.

Above these figures, the EBA indicates that seven Spanish bankers received between 4 and 5 million euros; while two received less than six million; one received between six and seven million and one received between seven and eight million.

Specifically, the banker The best paid in Spain received a total of 7,419 million in 2020euros, including 5.29 million in fixed remuneration and another 2.12 million in variable remuneration. On his side, the financial sector professional who received the highest remuneration in 2020 throughout the EU was a banker from France, with emoluments of 11,073 million euros.

Specific, the variable remuneration of this banker amounted to 6.44 million euros. For its part, the fixed part of the payment was 4.62 million euros.