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Minister for Finance Paschal Donohoe says a wage cap on those who work in State-owned financial institutions could be leading to problems with staff retention.
Currently, those who work in top jobs in AIB and PTSB can’t be paid more than €500,000 a year.
With a large number of international banks now located in Ireland, it’s worried that staff at Irish-owned banks could be attracted by more lucrative job offers.
The Department of Finance is therefore looking to review how much bankers are paid, but we’re wondering: Does the €500,000 salary cap for bankers need to be reconsidered?
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