Questions about the Governor’s pay

Freedom of Information rules mean that, as a public authority, the Bank of England is obliged to disclose certain types of information, both proactively and on request.

Date: 6 May 2022 


[a] Mr Andrew Bailey’s current annual income as Governor of the Bank of England

When Andrew Bailey became Governor of the Bank of England (the ‘Bank’) on 16 March 2020, the Bank’s Remuneration Committee set his annual salary at £495,000. 

[b] the value & date of the last pay increase awarded to him

Mr Bailey’s pay as Governor has not changed since his appointment. 

[c] when a new pay increase is expected to be awarded to him.

The Governor has not accepted a pay increase for the Bank’s financial year 2022/2023.