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21 bankers in Ireland earned more than €1 million in 2011

Another EU state had 2,436 individuals earning over €1 million in the same year.

TWENTY-ONE BANKERS in Ireland were paid at least €1 million in 2011, according to data published by the European Banking Authority (EBA).

The data identifies a total of 21 high earners working in the banking sector in 2011; 14 were involved in investment banking, three were working in asset management, and the remaining four in other business areas. Seventeen of the individuals identified were classed as staff.

The total amount paid to the 21 people mentioned in the report was €22,398,644, with the average total received by each individual amounting to €1,383,910.

Figures released for the previous year also identified 21 individuals who had received remuneration packages worth over €1 million, with the overall total for salaries between them amounting to €23,508,031. The total average pay package for each individual was €1,493,735 in 2010.

The business areas in which the individuals worked was also slightly different in 2011: 15 of those identified worked in investment banking, one in retail banking, one in asset management and four in other business areas. Seventeen were classed as staff.

Overall, the results showed that the number of high earners is limited across most members states but is “quite significant” in others.

Ireland’s figures compare fairly favourably with other EU countries – with the highest figures by far being reported in the UK where 2,436 high earners were identified.

Germany came in second with 170 high earners, then France with 162, Spain with 125, Italy with 96 and the Netherlands with 36.

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