According to data published by the European Banking Authority (EBA), a total of 128 Spanish bankers earned more than a million euros in 2020. As expected, in the year of the pandemic, their number decreased compared to the previous year, when the salary of these millionaires reached 163 managers. The Spanish have named themselves the highest-paid bankers in the EU, with an average salary of €2.2 million, behind only Malta, which has a professional on the list, but a salary of €2.4 million.
After the UK’s departure from the EU, Spain became the fourth country with the most bankers on millionaire salaries, behind only Germany’s 543 bankers, France’s 228 and Italy’s 187.
Across the EU as a whole, the number of bankers on millionaire salaries fell significantly in 2020 to a total of 1,383, compared to 4,963 in 2019, largely due to the UK leaving the EU. Last year, British entities monopolized 71% of the highest paid bankers in Europe, reports Europa Press.
However, excluding the UK, the number of millionaire-paid bankers also fell in 2020: from 1,444 in the pre-pandemic year, it fell by 4.2%.
Spanish bankers who earn the highest average in the EU
Across European countries as a whole, the highest-paid bankers’ salaries in 2020 ranged from €1 million to €11.07 million, with an average salary of €1.739 million.
In the case of Spain, the average compensation of its highest-paid bankers was €2,177 million in 2020. This figure tops the European rankings, second only to the 2.433 million received by the only Maltese banker included in the study. EBA.
The Spanish are followed by Irish bankers, whose average salary is 2153 million.
While European authorities have not named the bankers or those who paid the bonuses, the report indicates that 74 of the highest-paid banking professionals in Spain received between €1 million and €2 million, while another 25 received €3 million. less than a million euros and another 18, from 3 to four million.
Eleven managers earn more than four million euros
Above these figures, the EBA points to a small group of eleven people who are the highest paid in banking. Seven Spanish bankers received compensation between 4 and 5 million euros, two received more than this amount and less than 6 million, one received compensation between 6 and 7 million euros and, finally, one received between 7 and 8 million.
In particular, the highest paid banker in Spain received a total of 7.419 million euros in 2020, including 5.29 million in fixed remuneration and another 2.12 million in variable remuneration, the European Institute notes.
On the other hand, the financial sector professional who received the highest salary in 2020 across the EU was a banker from France, with a salary of 11.073 million euros. Specifically, the variable remuneration of this banker amounted to 6.44 million euros. On the other hand, the fixed part of the payment amounted to 4.62 million euros.
Source: El Diario