FCA to increase salaries of lowest paid staff in new employment offer

£5,500 average increase across business

The Financial Conduct Authority (FCA) has implemented a new employment offer across its business, which includes increasing 800 of its lowest-paid employees’ salaries by an average of £4,310.

The new offer, which follows a consultation among FCA colleagues and the firm's Staff Consultative Committee, will also see salary and performance-related pay across the business increase by an average of £5,500. Employees who meet their performance targets - which tends to be 85% of the FCA's workforce - will see salary increases of 5% this year and 4% in 2023. Pay increases also come alongside higher pension contributions and "flexible benefits", according to the firm. Treasury Committee presses FCA to conclude Woodford investigation While those who do not meet performance targets w...