The European Banking Authority (EBA) today published its 2024 Dashboard on high earners, revealing a 9% increase in the number of individuals in EU banks earning more than €1 million, rising from 2,343 in 2023 to 2,554 in 2024. The report also confirms that gender imbalance persists, with high-paid positions still predominantly held by men in both credit institutions and investment firms.
Document details and nature The report, published on 16 April 2026, is mandated by Article 75(3) of Directive 2013/36/EU and Article 34(4) of Directive (EU) 2019/2034. It collects data on the number of high earners, their business areas, and remuneration components (salary, bonus, long-term award, pension contributions). The dashboard is a monitoring tool, not a binding regulation, but it informs future policy reviews.
Key findings and drivers In credit institutions, high earners increased by 7% (from 2,122 to 2,266), while investment firms saw a 30% rise (from 221 to 288). The EBA attributes this to strong profitability from higher interest income and active trading, a rebound in advisory and capital markets, and competitive pay adjustments to attract and retain talent. The weighted average ratio of variable to fixed remuneration for high earners in credit institutions reached 98%; for investment firms, it soared to 359%, partly because the cap on variable-to-fixed remuneration under the Capital Requirements Directive (CRD) has not applied to investment firms since 2021.
Policy orientations and trade-offs The report highlights a tension between regulatory oversight and market competitiveness. On one hand, the EBA's monitoring aims to ensure remuneration practices do not encourage excessive risk-taking, supporting financial stability. On the other hand, the sharp rise in pay—especially in investment firms—reflects market pressures to retain talent in a buoyant sector. The EBA signals a forthcoming review of regulatory products to simplify data templates and reduce reporting burden, potentially easing compliance costs for banks. This could be seen as a trade-off between detailed transparency and operational efficiency.
Impact on stakeholders - EU banks and investment firms: Face continued scrutiny of pay practices, but may benefit from simplified reporting requirements if the EBA streamlines data collection. The high-earner data could influence shareholder and public perceptions of fairness. - EU regulators and supervisors: Gain insights into remuneration trends, aiding risk assessment. However, data quality issues currently delay publication of the benchmarking report, limiting timeliness. - EU employees (especially women): The persistent gender imbalance highlights ongoing inequality in high-paid roles, potentially prompting calls for stronger diversity measures. - EU taxpayers and civil society: May view rising banker pay as a sign of sector recovery, but also as a potential risk if incentives encourage short-termism.
Expected institutional follow-up The EBA will continue monitoring remuneration practices and plans to review its regulatory products to simplify data templates, adjust collection and publication frequencies, and reduce data quality issues. This follows the EBA's broader simplification agenda, including Chair François-Louis Michaud's 10 April 2026 proposal to cut bank reporting data points by 50%. The European Commission and other EU bodies may use the findings to inform future revisions of the CRD or investment firm directives.
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