Bonuses in the City level out at £14bn

BONUSES in financial services were unchanged in the year to March 2011, totalling £14bn – the same as the previous 12 month period.

The level of bonus awards paid out across the whole of the British economy was also unchanged from the previous year at £35bn, the Office for National Statistics (ONS) said.

The average bonus in finance and insurance was £12,500 in the last period measured. City bonuses were 36 per cent higher in 2006-07 and 2007-08, measuring £19bn in the financial sector.