FCA to increase salaries of lowest paid staff in new employment offer

£5,500 average increase

Lauren Mason
clock • 2 min read

The Financial Conduct Authority (FCA) has implemented a new employment offer which includes increasing 800 of its lowest-paid employees’ salaries by an average of £4,310.

The new offer, which follows a consultation among FCA workers and the watchdog's Staff Consultative Committee, will also see salary and performance-related pay increase by an average of £5,500. Employees who meet their performance targets - which tends to be 85% of the FCA's workforce - will see salary increases of 5% this year and 4% in 2023. Pay increases also come alongside higher pension contributions and "flexible benefits", according to the regulatory body. While those who do not meet performance targets will be "given assistance" to meet their objectives, employees who manage to d...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA to cut red tape for investment firms in bid to streamline regulation

FCA to cut red tape for investment firms in bid to streamline regulation

Volume of legal text cut by 70%

Linus Uhlig
clock 24 April 2025 • 2 min read
Zero cases of non-financial misconduct opened by FCA in two years

Zero cases of non-financial misconduct opened by FCA in two years

A Freedom of Information request has found

Cristian Angeloni
clock 22 April 2025 • 3 min read
Emma Reynolds: Targeted support is 'exciting opportunity' but 'we need to get it right'

Emma Reynolds: Targeted support is 'exciting opportunity' but 'we need to get it right'

‘Need strong consumer protection in place’

Jenna Brown
clock 22 April 2025 • 3 min read