FSA paid staff £22m in bonuses in 2009/10

According to the regulator's annual report 2009/10, published today, the total amount paid out in staff 'annual incentive rewards' in 2009/10 was £21,998,813, which equates to 13.8% of its total salary bill. This compares with £19.7m and 14% last year. The FSA says bonuses are discretionary and are only paid to those staff deemed to have met performance criteria set by managers. It adds there was no standard pay rise awarded to FSA staff during 2009/10 and 91.4% of people did not receive a salary increase in the pay review process. As of 31 March 2010, the regulator had 3,150 mem...