Uneven distribution of bonus bonanza

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Most City of London professionals had plenty to smile about during the recent bonus round. But some banks appear to have offered only meagre pickings.

Research published today by Morgan McKinley, the financial services recruitment firm, reveals that 64% of City professionals received a higher bonus for 2005 than for 2004, while 10% received a bonus that was at least double that of the previous year.

Unsurprisingly, nearly 70% of the 169 people surveyed professed themselves satisfied with the amount they received.

The remaining 30% may well be at a handful of banks identified as being poor payers. BNP Paribas and Bridgewell have already been vilified for the paucity of their payouts, and today the Financial Times adds Dresdner Bank to that list.

The paper quotes headhunters as saying that bonuses at the German bank are 'really, really bad', with many equities salespeople and traders finding more than 50% of this year's awards deferred until 2007. The disgruntled staff are apparently eager to move on.

Morgan McKinley's study suggests this may be easy to do. It says there are 50% more new jobs on offer this year than last.

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