Brit bankers admit they’re overpaid

Think bankers make too much? They actually agree, according to a poll of industry players across the pond.

Read: Get a grip on high executive pay

Seventy-five percent of U.K. financial-services professionals say “some of their colleagues are paid too much. Even two-thirds of senior managers — those colleagues most likely to be overpaid — agree with that complaint,” reports the Huffington Post Canada.

“What’s worse, about two-thirds of the financial-services employees surveyed said that high pay was encouraging risky behavior. In other words, absolutely nothing has changed since the financial crisis, which happened in part because of bankers taking big risks to chase more pay,” the report continues.

Read more here.

Also read:

Citigroup execs avoid another scrum over pay scheme

New bonus rules to limit EU bankers’ pay

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.