The banking and finance sector in Luxembourg is the highest paid sector in the country, with some professionals earning millionaire salaries. This is the case for bankers.
According to the European Banking Authority (EBA), which annually lists the main financial supervisors and managers with salaries above one million euros in the European Union, Luxembourg has 44 of these professionals who earn between one and three million euros per year. The official figures are those for 2023, the most recent. And we see an increase in millionaire senior executives compared to 2022, when the ABE counted 37 in Luxembourg.
The majority, 40 bankers, earn between one and two million, but there are four other professionals whose salaries are higher, between two and three million euros per year.
Gender inequality
An elite which, as in the rest of Europe, is predominantly male: 39 of these millionaire bankers are men, and only five women earn more than a million euros in Luxembourg.
The country reflects the gender inequality that exists in the financial sector among the highest paid senior executives. In Europe, of the 2,343 highest paid people, only 277 are women, indicates the EBA report, which warns of this “persistent imbalance” between men and women.
Germany is the country with the most millionaire bankers in Europe, with a total of 589 high-earning employees. France, neighboring Luxembourg, comes in second place with 521 bankers earning more than a million per year. Belgium, for its part, has only around fifteen supervisors and executives who earn more than this amount.
This article was originally published on the website Contact.
Adaptation: Simon Martin
Business
