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Figures released today by The European Banking Authority reveal the highest earning banker of 2013 received a whopping £12.5 million bonus – enough to buy 62 new Ferraris, or 200 kilos of cocaine at street value, or one house in Mayfair.
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While city boys are known for raking in revoltingly high bonuses, it seemed that from 2013 this might change. With many bankers waving farewell to uncapped bonus earnings, new European Union legislation was passed dictating that no individual salary would be able to exceed 200 percent.
Having neatly sidestepped the regulations, the £12.5 million bonus-earner’s original earnings came in at £800,000, with reports by Business Insider noting that the majority of his 1,567 percent extravagant payout was “commission based on performance”.
However, before we all drown in envy, the majority of this bonus did remain in share awards, and the European Banking Authority stated that just over half of it was postponed for over three years. So NBD, right?
