UK Workers Still Expect Bonuses Despite Economy Worries

Tue, 22 Apr 2008

The bonus expectations of UK workers are not being affected by the slowdown in the economy, a new study has suggested.

Research carried out by Investec Private Bank found that four out of ten workers expect to receive a bonus at some point this year.

The vast difference in the expectations of both genders was also highlighted, with men who believe they are due a bonus payment expecting to receive an average of £19,500, while woman anticipate an average of just £8,400.

The banks’ study also found that over 80,000 UK employees believed their bonuses will be worth more than £100,000, with a further 294,000 believing they will receive over £50,000 in bonuses.

The surprise findings come despite the on-going turmoil in the financial markets and an expectation of substantial cuts to city jobs .

Banking giants Citigroup, UBS and Merrill Lynch are the latest groups to announce plans to cut their global workforces following below-par first quarter performances.
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