Can Pac Swire
The overall sum of compensation rose by 8% to reach €11.1 billion. The count of employees stayed nearly the same.
The total of employees earning over €1 million rose by 28 percent last year, reaching 647. The increase was also attributed to a 78% growth in pre-tax earnings within the Investment Banking division, where a greater share of compensation is connected to performance.
The salary of Christian Sewing, chief executive officer and management board member, increased by 12 percent to €9.8 million. Yet, another staff member, whose name was not revealed, made €18m, which is the highest salary at the bank . It is known that he is not part of the board of directors.
Starting in 2024, Deutsche Bank links board member pay to performance over the next three years instead of the last three years, meaning Sewing’s salary could be capped at €12 million.
The final payouts will not be established until 2026. Should the board achieve all its targets, the total long-term bonuses for its members might reach €25.6m, up from €19.8m in 2023, when they attained a 77.5 per cent target.
source: ft.com
The total of employees earning over €1 million rose by 28 percent last year, reaching 647. The increase was also attributed to a 78% growth in pre-tax earnings within the Investment Banking division, where a greater share of compensation is connected to performance.
The salary of Christian Sewing, chief executive officer and management board member, increased by 12 percent to €9.8 million. Yet, another staff member, whose name was not revealed, made €18m, which is the highest salary at the bank . It is known that he is not part of the board of directors.
Starting in 2024, Deutsche Bank links board member pay to performance over the next three years instead of the last three years, meaning Sewing’s salary could be capped at €12 million.
The final payouts will not be established until 2026. Should the board achieve all its targets, the total long-term bonuses for its members might reach €25.6m, up from €19.8m in 2023, when they attained a 77.5 per cent target.
source: ft.com