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Home > Publications > Freedom of Information - disclosures
 

Freedom of Information - disclosures

Subject/Request Details: Information relating to bonus payments.

Date Released: 3 April 2009 - additional data released
13 August 2009

Disclosure:

1. How many of your staff will receive bonus payments on top of their salary (please provide figure for the most recent financial year available)?

In the 2008/09 Financial Year (to 28 February) 1597 staff (out of 1857) received bonus payments. Discretionary bonuses are part of the Bank's normal remuneration arrangements. The Governor and Deputy Governors are not eligible for bonuses, but most other staff are, depending on achievements during the year. Bonuses for 2008/09 were paid in February 2009. Some exceptional payments were made in November to compensate for the exceptional pressures on certain staff during the autumn. These are included in the figures quoted below.

2. What is the total of these bonus payments (again - figures for the most recently available year please)?

The total value of bonuses was £5.7mn, or 7.6% of the total salary bill. The average bonus was £3,538.

3. The largest bonus payment that has been paid to an individual in the last twelve months. (or nearest available year)

The largest amount that an individual received was £30,000.

In response to a further enquiry, additional information relating to the 2006/07 and 2007/08 financial years was released on 13 August 2009. The 2008/09 data referred to above is included in the following table.

Year
2006/07
2007/08*
2008/09**
Total number of Staff
(end-Feb)
1744
1753
1857
No. of staff receiving
a bonus
1606
1568
1597
Total value of bonuses
paid in £mn
£4.8
£5.3
£5.7
Total paid as a % of total salary bill (at end-Feb)
7.2%
7.7%
7.6%
Average bonus paid
£3,009
£3,359
£3,538
Largest bonus paid
£20,000
£30,000
£30,000

*Incl. exceptional payments paid in November 2007
**Incl. exceptional payments paid in November 2008