Barclays bonuses: big for best performers, but 200 got nothing
Barclays published its Q4 results today. Bonuses are down 15% across the bank, but the pain is not allocated evenly.
Across the bank as a whole, Barclays had over 1,600 Material Risk Takers (MRTs) in 2023. Fewer than 1,400 of those senior risk-takers actually took home a bonus last year.
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However, the 895 material risk takers in the investment bank specifically didn't do badly in 2023. Their combined bonus pool went from £555m to £574m last year, and average bonuses for this cohort were flat at £642k on average per head. When salaries are added in, average total compensation for MRTs in the investment bank was flat on 2022 at around £1.35m.
It was the top performers at Barclays who did best of all last year, though. 28 people at the bank earned over €5m in total for 2023, up from 20 in 2022. Seven people earned more than €9m, compared to just four the previous year.
Mere millionaires at Barclays didn't do badly either. In total, the bank paid 668 people over €1m in 2023, a lower number than 2022 or 2021, but higher than in both 2020 and 2019.
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