Two-thirds of City bankers say they are 'underpaid'

Some 67% of bankers in the City were unhappy with their overall remuneration package in 2012 and feel "excellence is not incentivised" according to a new study.

The global survey of finance professionals carried out by recruiters Selby Jennings also found over a third of bankers working in the City were dissatisfied with their bonuses for the year (35%). In both London and the global survey, 48% of respondents said their pay was unfair even when asked to take current market conditions into account. Of the City workers, 41% reported a basic salary of between £50,001 and £100,000; while 22% took home less than £50,000 and 2% reported pay of £300,001 to £350,000. The survey also found just over 11% of City-based finance professionals receive ...