Some directors of UK banks also have salaries 120 times higher than their employees with an average salary.
The top directors of the UK bank are, on average, paid 120 times better than their average paid employees. Due to the newly adopted law on transparency and transparency of wages, wage data are now publicly available. The law was adopted precisely because of widespread wage disparities in the British economy and wants to strengthen control over them, writes Reuters.
The largest lender in the UK Lloyds Banking Group also has the widest pay gap. CEO Antonio Horta-Osorio has 169 times more salary than the average salary, wrote a week ago in the company's annual report. On average, the executive director of a bank has a salary 118 times higher than an employee HSBC John Flint, which earns more than 5 million euros per year.
In addition to the annual report prepared with all the data, by next year, banks will have to regulate the relationships between employees' salaries.
Lloyd Banking Group has already announced that it will increase the company's minimum wage by almost 10% in April, which means that employees with a minimum wage each year will earn just over 20,000 euros.