The average salary for a full-time finance worker, including social security, pension and bonus, increased to £65,000 a year, with average bonuses up by 12 per cent to £5,500.
In contrast, the ‘gross value added’ (GVA), which measures the total economic activity in the Island, fell by one per cent in real terms (taking inflation into account) to £1.71 billion, driven mainly by a decline in banking. Productivity also decreased, by three per cent in real terms, during 2015.
However, trust and legal firms both recorded increases in both GVA and productivity, described by statistician Dan Edmunds as ‘a tale of two sub-sectors’, with ‘banking going one way and trust and legal the other way’.
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