Millionaire bankers growing in Europe in decade after crisis

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According to data sources, European financiers who earn more than 1 million euros (USD $1.23 million) grew by a third in the 6 years to 2016 to 4,597, with investment bankers and London dominant.

However the fall of 11% to 4,597 was mostly due to the massive hit to the British professionals’ pay from the pound’s drop against the euro after the Brexit vote in June of the same year. The UK dominates the millionaire bankers in the EU as it boasts three-quarters of the continent’s highest-earning finance workers.

Moreover, the European Banking Authority highlighted in a recent study as to how pay has rebounded in banking, whose notable crash 10 years ago resulted in state bailouts and has minimized profitability since then.

Following this, most of Europe’s high earners made between 1-2 million euros in 2016 while the EBA study shown that 500+ had been paid more than this whereas around 12 received at least 13 million euros each.