Survey results show Canary Wharf workers expect lower bonuses this year
Canary Wharf workers are expecting to receive on average �5,650 less in bonuses this year, according to survey results published today.
Staff in east London’s financial district and the City anticipate a bonus of �19,920, according to research by recruitment firm Astbury Marsden.
That represents 24 per cent of their annual salary based on an average wage in the sector of �83,000.
Last year’s survey showed an expectation of �25,570 or 35 per cent of basic salary, based on an average wage of �73,050.
At least 12 per cent of employees surveyed are not expecting a bonus.
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Mark Cameron, Astbury Marsden’s chief operating officer said: “Just over half of employees said they were unsure whether they were getting a bonus or not.
“That is a real shift in sentiment on bonuses from previous years.
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“In the pre-credit crunch days bonuses were talked about in many multiples of base pay – this year the expectations are for fractions of salary.”
This year’s bonuses will come on top of a 12 per cent increase in basic pay for Canary Wharf and City workers, according to the firm.
The survey polled 1,380 finance professionals between September and October.