Analyst gets 1.4m (€2.26m) payout for insulting bonus

eFC logo

A senior City of London analyst paid an insultingly low bonus and forced to resign from Schroder Securities was on Thursday awarded more than 1.4m(€2.26m) compensation - one of the highest awards made by an employment tribunal.

The 1,412,823 compensation for Julie Bower, a drinks sector analyst, follows her successful claim for unfair dismissal and sex discrimination last year at Stratford employment tribunal in east London.

It ruled that an insultingly low 25,000 bonus paid to Bower in 1999 was part of a concerted campaign to oust her from her 120,000-a-year job.

The tribunal criticised Schroder's bonus system as lacking in transparency and condemned the laddish or sexist air of some of the company's corporate entertaining which included visits to lap dancing clubs.