On 18 August 2021, the European Banking Authority (EBA) published a report on high earners for 2019.
The report has been developed in accordance with Article 75(3) of the Capital Requirements Directive IV, which mandates the EBA to collect information on the number of individuals per institution that are remunerated EUR one million or more per financial year (high earners) in pay brackets EUR one million, including the business area involved and the main elements of salary, bonus, long-term award, and pension contribution. The report includes data reported by UK institutions for high earners, as during the transitional period, UK institutions continued reporting data on high earners at EU consolidation level, covering all subsidiaries and branches established in EU Member States.
The report shows that in 2019, 4,963 individuals working for EU banks received a remuneration of more than EUR 1 million, which is mostly the same as in 2018. The average ratio between the variable and fixed remuneration for high earners decreased from 139% in 2018 to 129% in 2019. Institutions’ preparation for the UK withdrawal from the EU has affected the distribution of high earners across the EU with a number of high earners relocating from the UK to the EU.