Barclays staff share pay pot of 5%

Employees at Barclays bank received increases according to a performance-related pay matrix at Barclays this month, with a total pay pot of 5%. The deal is the second stage of a three-year agreement with the amount based on the Retail Prices Index (RPI) averaged over August, September and October last year, plus 0.9%. The deal was capped at 5%. 95% of staff will receive rises, according to the matrix, with 80% receiving 4.67% or more. The maximum award for good performance is 7.8%. Barclays is finalising its bonuses for senior executives and overhauling its reward systems according to The Times. The bank chose not to participate in the government’s cash-injection rescue scheme.