Bonuses remain top reward to City staff

Bonuses
are still the most common benefit offered to City staff – despite the
continuing economic downturn and poor stock market  performance.

A
new study by finance recruitment firm David Chorley shows that 97 per cent of
City companies incorporate a bonus scheme within the pay system.

The
research looked at 1,000 managers from banking, finance, asset management and
insurance firms and found that the value of bonuses was largely dependent on
the performance of individuals, rather than teams.

The
average bonus paid was between 5 and 15 per cent, although around 4 per cent of
those surveyed received bonuses of up to 50 per cent.

Family-friendly
policies are also becoming more important in the once macho world of finance,
with 65 per cent of employers offering more than the statutory minimum of
paternity leave.

Career
breaks are offered by 19 per cent, although the sector still lacks any real
childcare provisions – only 3 per cent offer crèche facilities.

By Ross Wigham

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