ComRes research: City workers believe their colleagues are overpaid

Employees in the financial services sector believe that City bond traders, FTSE 100 chief executives and stock brokers are paid too much, according to a survey conducted to mark the 25th anniversary of the ‘Big Bang’ of financial deregulation.

The report Value and values: Perceptions of ethics in the City today, conducted by ComRes on behalf of the St Paul’s Institute, also showed that the 515 workers thought that teachers were paid too little and 75% think there is too great a gap between the rich and poor.

Salary and bonuses’ are the most important motivation for professionals working in the financial services sector in London for 64% of respondents, before enjoyment of the work. The majority of respondents feel that their companies maintain high ethical standards that are broadly in line with their personal moral standards.

Commenting on the survey Reverend Michael Hampel, canon precentor of St Paul’s Cathedral, said: “Action is a crucial goal of the protest camp outside St Paul’s Cathedral. 

“We hope that the telling findings of this report can provide a solid foundation for future engagement and highlight issues where action might be of mutual concern for all sides of the debate.”

Do you think such attitudes will generate any sympathy among the protesters outside St Paul’s?

For more on pay and bonuses in the financial sector