CASH HAPPY

THE number of bankers in Spain who earn more than €1 million a year grew 73% to 221 just after the pandemic.

This is compared to the figure of 128 in 2020, according to figures just published by the European Banking Authority (EBA).

The list shows that Spain is fourth in Europe when it comes to the highest number of bankers with salaries over the million-euro mark, only below Germany (589), France (371) and Italy (351).

What’s more, a Spanish banker received the highest salary in the entire European Union in 2021, with a total of €14.67 million for the year.

Salary

with BBVA and CaixaBank, and participants will be able to exchange digital euros for physical euros at any time. The pilot testing phase is scheduled to last for six to 12 months.

Pilot

Once the success of the pilot has been evaluated, the Bank of Spain will make a ruling on whether to allow Monei to roll out tokens to the general public.

The average salary for million-earning bankers in the country was €2.16 million, compared to the European average of €1.8 million. In its analysis, the EBA pointed to the effect that the variable component of bankers’ salaries has on the yearly figures, meaning that when these lenders have a good year, pay can rise considerably.

Factors that had an influence on strong performance in 2021 include the lifting of many of the restrictions put in place the year before due to the Covid-19 pandemic, the relocation of staff due to Brexit and inflation.