A study by recruitment firm Astbury Marsden showed that pay rose more in the first half of the year when confidence among banks was high. The biggest average pay rises were for City workers who changed jobs or were promoted. Staff who stayed put saw their pay increase by 8 per cent.
City workers see generous pay rises
Average pay in the City of London has jumped by 12 per cent to £83,000 in the past year, with managing directors enjoying a 21 per cent increase to £237,000, according to a report published today.