Bonus pot down by £12m for Island’s finance staff

Tuesday 31st August 2010, 3:00PM BST.

The head of the Statistics Unit, Duncan Gibaut

FINANCE industry workers lost out on £12 million of bonuses last year.

Figures released this week show that the average annual bonus per employee fell from £5,500 in 2008 to £4,700 in 2009.

At the end of 2008 a total of 12,800 full-time equivalent staff were employed in the industry which meant firms would have paid out over £70 million in bonuses.

The head of the States Statistics Unit, Dr Duncan Gibaut, said that the fall in the level of bonuses was not a surprise as it reflected other figures which showed a reduction in finance business activity in 2009 compared to a year earlier.

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