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'Dutch banks pay their staff €2bn a year too much'

Thursday 22 November 2012

The gap in salary between ordinary workers and average bank staff has increased from 17% in 1987 to 81% nowadays, according to research by Somo, an agency which focuses on researching multinationals.

The average bank worker now earns over €55 an hour, compared with €30 for the average
Dutch worker, the research shows.

But by cutting the banking salary bill by just 15%, they could save €2bn a year, researcher Rens van Tilburg told news agency ANP.

'And if civil servants' salaries are being frozen, why not a state-owned bank as well?' Van Tilburg said, referring to ABN Amro, which was bought by the state at the height of the banking crisis.


Your thoughts? Use the comment box below to share your views

© DutchNews.nl



 

Readers' Comments

About time that they started giving depositors a reasonable return on their savings. The 2 billion could go towards rewarding their customers loyalty?

By Highlander | 22 November 2012 3:49 PM

I think it is not fair to use the average value here. Median (or mode) value can give a closer picture.

By Richard | 22 November 2012 3:57 PM

This is outrageous. Whilst we are all struggling to make ends meet, many of us lost our pensions because of the blatent dishonesty of the banks.. and now they pay themselves almost double everyone else's salary! Failure is rewarded in the banking world. I'm sick and tired of these crooks being allowed to get away with their blatent disregard for the consequences of their crimes. How much longer must we wait before the police intervene with the Great Banking Swindle and start arresting these crooks?

By Andy | 22 November 2012 4:03 PM

Behind the lavish facade of their air-conditioned open offices with 1 meter flat screen TV's & expensive interior avant-garde design & advertising & phony "cuckoo's nest medication-time charm', there's always the temptation to steal.

What's next, more sacking again?

By The visitor | 22 November 2012 4:38 PM

I am all for a bit of banker bashing as they have created much of the mess we are now all paying for, but comparing average salaries of banks to everywhere else is not really fair.

The vast majority of people that work for banks earn the same salaries as the rest of us, however the huge bonuses and salaries paid to executives and a relatively small number of traders distorts the average.

Kick the overpaid traders and execs as much as you want, leave the rest alone.

And no, I don't work for a bank!

By Simon | 22 November 2012 4:39 PM

I'm willing to bet that the average bank employee is required to be better educated than the average Dutch worker overall, so the higher average salary makes sense. Just another article promoting class warfare.

By Bradley Roberts | 22 November 2012 7:05 PM

So,researcher Rens van Tilburg says: the average Dutch worker earns €58000 salary! And average bank workers on a €105,000 salary!!! Yipes, what a country! Or is he way off the mark?

By Gary Coombe | 22 November 2012 8:00 PM

Wait, since when did the 'average Dutch worker' start earning €30 an hour (€4800 per month on full time 40 hour week)? Is there some parallel Dutch universe I don't know about?

By AnotherExpat | 22 November 2012 10:04 PM

I think those are costs with an employee not salary. The average worker does not get 30 x 160 x 12 = 58000 EUR. Average bank pay of 55 x 160 x 12 = 105000 seems not in line to their own CAOs.

By Dan | 22 November 2012 10:07 PM

banks are run by bank executives for the benifit of bank executives. They pay their staff well and themselves better.
What happened to the idea that profits were for the shareholders?

By Mark Holden | 22 November 2012 11:09 PM

What kind of left-wing naive idea is that - they pay their workers too much so they shut simply cut salaries by 15%?! It's called demand and supply. And the banking business has its price just like every other industry. It's simple: Try dictating lower salaries and people will move on to where they will receive a better pay.

By Corey | 23 November 2012 7:30 AM

IF this information is actually true then I am not less of disgusted. I have never been to a country where the staff are so clueless about bank matters. I've been embroiled with a problem with "toekomstsparen" for 2 weeks already which has involved 6 of their friendly but clueless staff... nothing they do justifies earning such wages...

By Michael | 23 November 2012 8:08 AM

30 an hour is 30*8*21.75 = 5220 a month if a person works full time. Is it a salary of average Dutch worker?

By A | 23 November 2012 8:58 AM

Apparently they are also thieves, charlatans above the law and beyond prosecution. I look forward to be proved wrong.

By Dr Ponzi | 23 November 2012 9:03 AM

Why not just city everyone's salary and let the companies have their enormous profits back to pre-2002.
Does this sound fair? To company sharesholders it sounds likr a wet dream come true.

By Me | 23 November 2012 9:38 AM

If Dutch bank employees are required to be better educated than the average Dutch worker, then that would indicate that they would be smarter and make better decisions, right? More pay, more education, better performance, right? So why exactly then did the Dutch banking system have to be bailed out with taxpayer (our) money not so long ago - repeatedly bailed out, not just once. Where is all that money we are paying them for their 'higher intelligence' (leading to better performance) going exactly? In my view this sector has performed much much worse than the 'average Dutch worker' sector.

By steve | 23 November 2012 9:53 AM

30 an hour is 30*8*21.75 = 5220 a month if a person works full time. Is it a salary of average Dutch worker?

By A | 23 November 2012 10:28 AM

That all can be true! We forgot about statistics! They say Average. If it is per company they take everybody's salaries into account, including high earning managers, and divide over amount of employees. That just means that the high numbers are due to large differences between salaries of employees and management.

By A | 23 November 2012 10:32 AM

I think this is the most ridiculous thing I have ever heard. The average bank worker does not get paid that much, nor are they responsible for the big decisions made and therefore in essence cutting their wages would mean your punishing the wrong people. Totally agree that the top managers get paid way too much and should have bonuses cut, but lets be realistic here, €30 an hr for the average worker.....what a load of crap!

By S | 24 November 2012 9:21 AM

well....sorry but this is not happening only in The Netherlands but also in other countries.
The problem here is the the Dutch have all the rights and benefit they need, but to the poor emmigrants that pay even higher taxes,clean the shit of Dutch peoples and in return we get more shit , very nice silent Apartheid.
Also another problem , we keep reading this kind of story and no one is able to stand up and say stop, WE ARE ALL SLAVES OF OUR OWN LIFES !!!

By plasmo | 24 November 2012 11:54 AM

Why let some annoying facts get in the way of a good headline!

By Sir Charles Moore | 24 November 2012 3:18 PM

Sorry but totally disagree, the immigrants in NL are given more than they could wish for. In some cases, they have more than some of the poorer Dutch families themselves. Check out all the satelite disches, flash cars etc. The only one that can change your situation is you, and if you dont' like the conditions dealt to you....you have the option to leave.

By S | 25 November 2012 10:45 AM

Oh really, S? You know for sure that all those who look like immigrants live better than Dutch people? And you really think all this is handed you them?

What is your proof, exactly? As an immigrant, I was given absolutely nothing. What did apparently get?? What am I missing out on?? I must know!!!

By CW | 25 November 2012 12:57 PM

I am an immigrant myself. I don't believe anybody is handed anything, you have to work for it. However, the Netherlands offers people opportunities, housing, welfare, healthcare. They have a very socialistic system. I don't believe that you should move to a country and expect them to "give" you everything, just like the rest of society, you have to work for it. You have to give in order to get.

By S | 25 November 2012 2:01 PM

Sorry but totally disagree, the immigrants in NL are given more than they could wish for. In some cases, they have more than some of the poorer Dutch families themselves. Check out all the satelite disches, flash cars etc. The only one that can change your situation is you, and if you dont' like the conditions dealt to you....you have the option to leave.

By S | 25 November 2012 2:16 PM

 
 
 
 
 
 
 
 
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