Financial sector bonuses fall

Total bonus payments received across the whole economy in 2011/12 totalled £37 billion, a 3% increase on the previous year, according to figures from the Office for National Statistics (ONS).

The Average weekly earning – bonus payments in Great Britain report found that 36% of all bonuses were paid to employees in the financial sector, totalling £13 billion. This figure is a 9% drop on the 2010/11 level.

The average bonus per employee in the sector was £12,000 in 2011/12, which was a decline of £1,500 on the previous year’s bonus level. However, it is still nearly double the bonus level received in the mining and quarrying sector, the industry with the second highest average bonus of £6,900 per employee.

The report also found:

  • The rest of the economy experienced a 12% increase in bonuses, with rates nearly reaching levels seen in 2007/08 when bonuses were at their peak.
  • The average private sector employee received £1,700 in bonuses, five times the average public sector bonus of £300.