The case of the Deutsche Bank employee who earns twice the CEO

In 2024, an employee of Deutsche Bank would have earned almost double the CEO Christian Sewing, Since the largest German credit institution has increased the bonuses following a surge in the profits of investment banking. This was revealed by the Financial Times. The number of employees of the group who earn more than 1 million euros increased by 28%, going from 505 of the year before 647 in 2024. The increase was possible thanks to an increase of 78% of profits (gross of taxes) in the investment banking division, where the variable remuneration linked to performance constitutes a greater share of the total remuneration.

The total premium mountain of the bank increased by 25% to 2.5 billion euros, the maximum since 2014, while the total salary increased only by 8% to 11.1 billion euros, and the staff remained stable. Deutsche Bank did not reveal the identity of its employee with the highest incomewhich is not part of the Board of Directors, but it is known that last year he received a maxi salary of 18 million euros. Almost double compared to the AD Christian Sewing, whose remuneration is amount to 9.8 million euros, with an increase of 12% compared to 2023.

Since 2024, the bank has connected payments to the services of the next three years rather than the last three. The sewing salary could therefore reach a maximum of 12 million in the next two years as the last salaries of 2024 for the members of the Council will be determined completely only in 2026. If the members of the Council will reach 100% of their objectives, Their combined long -term bonuses will amount to 25.6 million eurosincreasing compared to 19.8 million euros in 2023, when they reached 77.5% of the goal.

The short -term bonuses have decreased for most members of the Council after they have not achieved individual objectives. For example, the bonus for the administrative director Stefan Simon is almost halved, going from 1.8 million euros of the previous year to 1 million euros, after the bank was affected by an expensive legal expenditure (on the price paid to shareholders when it was purchased Postbank) of 900 million euros. The bonus paid to the outgoing director Olivier Vigneron was also reduced by over 20%.