European bank chiefs are being paid less than half as much as their US counterparts, after average remuneration in Europe fell 6 per cent between 2010 and 2014, but grew 15 per cent in the US.
Last year, chief executives of the top nine internationally active European banks earned an average of £4.8m, including base pay, bonuses and long-term incentive awards, compared with the average £10m paid by the big five US banks.
While European bank chiefs have lagged behind their American rivals for several years, the disparity is now more extreme, according to data compiled for the Financial Times by PwC.
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