London City workers received highest bonuses in the world last year

London City workers received the highest bonuses in the world last year, a survey by eFinancialCareers has shown.

The survey, which polled 2,692 bankers and finance workers, found that City workers got higher bonuses than those on Wall Street, Sydney, Hong Kong and Singapore.

Bonuses in the City of London increased by 49% last year compared to 2012 followed by Wall Street and Hong Kong, where bonuses rose by 47%. Sydney bankers saw an average bonus increase of 45% and Singapore bankers of 42%. 

James Bennett, of eFinancial Careers, told City A.M.:“Banks are dividing their bonus pool more ruthlessly, with a priority placed on rewarding top performers.

“Banks argue that they need to pay large bonuses to keep their top talent.

“The world’s biggest financial centres all compete for the top talent, and banks will ensure they keep rewarding their best performers.”

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