A total of 128 Spanish bankers earned more than one million euros in 2020, according to data published by the European Banking Authority (EBA). As expected, in the year of the pandemic their number contracted compared to the previous year, in which the figure reached the 163 directors with these millionaire salaries. The Spanish have positioned themselves as the best paid bankers in the EU, with an average salary of 2.2 million euros, only behind the figure for Malta, which has a professional on the list, but with a remuneration of 2.4 millions of euros.
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After the departure of the United Kingdom from the EU, Spain became the fourth country with the highest number of bankers with millionaire salaries, only behind the 543 bankers in Germany, the 228 in France and the 187 in Italy.
In the EU as a whole, the number of bankers with millionaire salaries fell markedly in 2020, to a total of 1,383 compared to 4,963 in 2019, mainly due to the exit of the United Kingdom from the EU. Last year, British entities monopolized 71% of the best-paid bankers in Europe, recalls the Europa Press agency.
However, without taking into account the United Kingdom, the number of bankers with millionaire remuneration also fell in 2020: in the pre-pandemic year the figure was 1,444 people, which is why it has fallen by 4.2%.
Spanish bankers, those who earn the most on average in the EU
In the European countries as a whole, the remuneration of the highest-paid bankers in 2020 ranged between one million euros and 11.07 million euros, with an average remuneration of 1.739 million euros.
In the case of Spain, the average compensation of its highest-paid bankers was 2,177 million euros in 2020. The figure is at the top of the European ranking, only behind the 2,433 million received by the only Maltese banker included in the study. of the EBA.
Behind the Spaniards are the bankers from Ireland, with an average salary of 2,153 million.
Although the European authority does not provide the identities of the bankers or the name of the entities that paid these emoluments, the report does indicate that a total of 74 of the best-paid banking professionals in Spain received between 1 and 2 million euros, while that another 25 received less than 3 million euros and another 18, between 3 and four million.
Eleven managers earn more than four million euros
Above these figures, the EBA points to a small group of eleven people who are at the top of the highest salaries in banking. Seven Spanish bankers received remuneration between 4 and 5 million euros, two received more than that amount and less than 6 million, one received emoluments between 6 and 7 million euros and, finally, one received between 7 and 8 million.
Specifically, the best-paid banker in Spain received a total of 7.419 million euros in 2020, including 5.29 million in fixed remuneration and another 2.12 million in variable remuneration, points out the European institution.
On his side, the financial sector professional who received the highest remuneration in 2020 throughout the EU was a banker from France, with emoluments of 11,073 million euros. Specifically, the variable remuneration of this banker amounted to 6.44 million euros. For its part, the fixed part of the payment was 4.62 million euros.