Some workers still expect 100k bonuses

Mon Apr 21, 2008 2:35pm BST
 
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LONDON (Reuters) - As many as 84,000 workers expect to get bonuses of more than 100,000 pounds this year despite a slowdown in financial markets, according to a survey published on Monday by Investec Private bank.

An additional 294,000 employees think they will get bonuses of between 50,000 and 100,000, said Investec, citing the survey.

In total, four out of 10 employees are expecting some kind of bonus this year, of on average 14,600 pounds each.

The Office for National Statistics said last week that average earnings excluding bonuses grew at its fastest annual three-month rate since November 2006 in February.

"In terms of how people intend to use their bonuses other than putting them into savings accounts, 27 percent said that they would use it to go on a holiday and 22 percent said that they would use it to clear debts," said Investec.

The survey was conducted in February and did not specify whether respondents from any particular industries were targeted.

Employment is running at record levels but experts expect the labour market will suffer as the economy slows this year, potentially creating another headache for Prime Minister Gordon Brown.

(Reporting by Mathieu Robbins, editing by Elizabeth Fullerton)

 
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