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BANK'S PRINCE ..AND PAUPERS; Barclays boss presides over huge pay gap.

Byline: Graham Hiscott reporters@dailyrecord.co.uk

UNION leaders are demanding fair pay for Barclays staff - as it emerged boss Antony Jenkins gets more than 80 TIMES their worst-paid workers.

Unite said the pay gap at the bank was "shocking" as they prepared to start pay negotiations with the firm.

The criticism comes on the day Barclays are expected to announce full-year profits increased from PS5.9billion to PS7.2billion.

The under-fire bank are likely to confirm they paid up to PS2billion in bonuses for the last year.

Yet while bigwigs and investment bankers are still raking it in, Unite say other Barclays workers are struggling to make ends meet.

Unite's Dominic Hook said: "The gap between the highest paid and the lowest paid staff at Barclays is huge.

"It's shocking but true that the starting salary at Barclays is just PS13,500 a year, making some workers at the bank eligible to claim tax credits. With pay be negotiations due to start soon, Unite will expecting the bank to reward staff fairly for their contribution to the success of the bank."

r e are " While Jenkins has waived a potential annual bonus of up to PS2.5million in the wake of a series of scandals, he still gets a PS1.1million basic salary, plus a share award o s l o ke ward up to PS4.4million and a pension contribution of PS363,000.

Barclays will increase the annual pay pot for staff by 2.4 per cent from April - the end of a three-year deal - but levels will be set locally.

They also pledged to pay all staff a Living Wage - PS8.55 an hour in London and PS7.45 in the rest of the UK - in a challenge to other employers. But Unite, who represent 50,000 Barclays staff, want an earlier commitment from the bank for next year's pay round.

controversi Th be Barclays will confirm a shake-up today that's likely to see them axe their controversial tax advisory business and confirm around 2,000 investment bank job losses. The bank have been left reeling by a series of scandals, from the PS290million Libor rate-rigging fine to a spiralling bill for payment protection insurance and an interest rate misselling scandal.

d 13.5k, ra eligible to tax pay insu inter selling

Some start workers at Barclays are on PS13.5k, and eligible to claim tax credits of

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Publication:Daily Record (Glasgow, Scotland)
Date:Feb 12, 2013
Words:409
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