(Bloomberg) -- Bonuses were down for the average Barclays Plc worker last year — and top executives shared in some of the pain.
The median employee got a 1% pay rise and a 10% increase in benefits last year, while their bonus fell 43%, according to the bank's annual report released alongside earnings Tuesday.
Some of the changes reflect Barclays overhauling its UK pay structures for more junior employees during the year, the bank said in the report. And a slump in dealmaking meant little or no bonuses for many investment bankers.
Meanwhile, Chief Executive Officer C.S. Venkatakrishnan was paid about £4.6 million, down from £5.2 million the previous year, with his annual bonus falling 27%. His benefits also fell, although this was a result of one-time relocation expenses in the prior year when he moved to London from New York. The bank stopped paying for his temporary accommodation in October.
Finance Director Anna Cross was paid a total of £2.8 million, up from £2.1 million the year before. Both her and Venkatakrishnan were awarded roughly half their maximum potential bonuses.
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