The number of bankers with salaries exceeding one million euros is increasing both in Spain and in the rest of the EU. According to the latest annual report from the European banking authority, the EBA, on high remunerations, published this Thursday, the country has 235 bankers with this profile, compared to 221 a year earlier. The figure increases by 14 and stands out for the gender differences.
The results of the report correspond to fiscal year 2022, when interest rates began to rise in July after almost a decade at levels close to zero. The EBA itself notes a strong increase in millionaire bankers in the EU, up to 2,342, compared to 1,957 a year earlier, and attributes this to the “good general performance of the institutions, the expansion of the business and the adjustment of salaries to inflation.” .
In the Spanish case, the million euro club is made up of 211 banking executives and another 24 from the world of investment funds. It is the third country with the highest number, after 653 in Germany, 519 in France and 383 in Italy.
From the figures offered by the European authority, the overwhelming majority of men compared to women stands out. Of the 211 millionaire bankers who work in banks, 189 are men and only 22, 10.4%, are women. In Germany there are 45 women compared to 564 men; in Italy 28 compared to 331; and in Italy, 54 compared to 413.
Spain stands out for being the fourth country where the average salary of these managers is higher, at 2.12 million euros. In this comparison it can be seen that the country’s wealth does not correlate with the remuneration of its senior managers. In fact, the best average salaries are in Slovenia, with 2.36 million euros per banker, compared to 2.2 million in Australia and 2.17 million in Greece. In Germany, the Netherlands, France and the rest of the countries with higher per capita incomes, the salary falls below 2 million.
In Spain, the variable remuneration of these profiles is higher than the fixed remuneration. It is equivalent to 121%, when in Germany it is 62% and in Italy, 80%. In France, however, the variable rate is 132% higher than the fixed rate.
