The EBA observes an increase of high earners in the EU in 2024

The European Banking Authority (EBA) today published its 2024 Dashboard on high earners. The data shows an increase in the number of individuals in EU banks earning more than EUR 1 million. The Report also confirms that gender imbalance persists, with high‑paid positions still predominantly held by men in both credit institutions and investment firms.

In 2024, the total number of high earners increases at 2 554 (from 2 343 in 2023). In credit institutions, the number increased by 7% (from 2 122 in 2023 to 2 266 in 2024). In investment firms, it rose by 30% (from 221 in 2023 to 288 in 2024). This development is mainly linked to i) strong profitability supported by higher interest income and active trading, alongside a rebound in advisory and capital markets; ii) favourable economic conditions, including elevated interest rates and renewed M&A activity; and iii) competitive pay adjustments justified by the firms as warranted to attract and retain talent.

The weighted average ratio of variable to fixed remuneration for high earners in credit institutions increased to 98 %. For investment firms, the average ratio increased to 359%. The cap on variable-to-fixed remuneration laid down in the Capital Requirements Directive (CRD) has not applied to investment firms since 2021.

Legal basis and next steps

This Report has been developed in accordance with Article 75(3) of Directive 2013/36/EU and Article 34 (4) of Directive (EU) 2019/2034, which mandate the EBA to collect information on the number of individuals earning EUR 1 million or more per financial year, (high earners), including the business area involved and the main components of remuneration (salary, bonus, long-term award and pension contributions).

The EBA will continue to monitor and assess developments in remuneration practices in the EU, in line with its mandates. However, the relevant regulatory products implementing these mandates will be reviewed in the near future to simplify data templates, adjust data collection and publication frequencies, and consequently reduce data quality issues which currently prevent the publication of the EBA benchmarking report closer to the reference date.