OPINION: Barclays pays out the big bucks

imagesToday it was reported by the BBC that a more than 400 employees of Barclays bank earned more than £1m last year.

This comes after a number of scandals made by the bank last year when they submitted false interest rates to make profit from trades and give the impression they are more creditworthy than they were.

Despite numerous resignations over the scandal the bank are dishing out these large salaries to employees, who are not the highest earners of the bank.

Five people at Barclays are earning over £5m but the bank have said that chief executive Antony Jenkins was not among the five as he earned £2.6m – so who is earning the big bucks?

This has been the first of reports published by the bank about payment details which have followed a pledge to improve transparency at the bank from their new chairman, Sir David Walker.

If it is transparency Walker wants, it is what the public has got.

In efforts to come clean after their infamous past year I think it is remarkable that we now know the honest truth of what’s on the staff pay checks.

Now, I say it is remarkable for two reasons. One because who needs £5m, even £1m, to live comfortably, and two that they have published honest reports.

The average salary for a UK citizen is £26,000, so, to have four times this seems rather extravagant- I hope their next honest reports are what employees spend their money on.


About hparr247

Glasgow Caledonian University journalism student who has studied at Stony Brook University in New York. Curious and amazed about the world, what it is up to, and its people.
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