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Standard Chartered bonuses rose 11% to £71k for top quartile performers

If you were a middling individual working for Standard Chartered in the UK last year, you were probably quite happy with your pay. If you were one of Standard Chartered's lower paid people, you were very, very happy with your bonus. And if you were one of its highest earners, you should have been happy compared to the rest of the market. 

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In today's annual report, Standard Chartered divulges compensation figures for its bottom quartile, median and upper quartile performers in the UK, on a total compensation, salary and bonus basis. 

They show that 2023 was a good year for pay at the bank. Total compensation (salary, bonus and deferred stock) for median individuals rose 12% to £162k. Total compensation for the top quartile of people rose 8% to £247k. Total compensation for the lowest quartile was up nearly 16% to £110k.

The numbers are shown in the charts below, with salaries and bonuses broken out. Standard Chartered's generosity to people in the UK appears to have been matched by its generosity globally: the bonus pool across the bank rose 16% last year to $1.6bn. 

In the UK, bonuses rose the most dramatically for people in the lowest quartile pay range this year, where there was a dramatic 50% rise.

Standard Chartered only breaks out pay per quartile for its people in the UK, Globally, however, it said its five highest paid people outside senior management earned a total of $51m (£40m). The highest paid person received $14m.

 The compensation figures apply to the Standard Chartered Group. At Standard Chartered's corporate, commercial and institutional bank, which includes investment banking and sales and trading activities, pre-tax profits rose 42% last year. However, this was largely a result of a 51% increase in transaction banking revenues: financial markets revenues earned from trading fell 5%. 

 

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Photo by Vitolda Klein on Unsplash

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AUTHORSarah Butcher Global Editor

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