Unlike Antony Jenkins, the rest of Team Barclays will be accepting bonuses this year, thanks.

Barclays will pay up to 2.4 billion pounds ($3.9 billion) in bonuses to staff for 2013, Sky News said, a year when it asked shareholders for nearly 6 billion pounds to bolster capital, and an 11 percent rise from 2012. Barclays will release pay details alongside annual results on Tuesday, and Sky said it will pay between 2.3 billion pounds and 2.4 billion pounds in incentive awards. Barclays declined to comment. A rise in bonuses at the bank could provoke a backlash from politicians and a public angered that banks are not reining in compensation. Excessive pay has been blamed for encouraging risk-taking and contributing to the 2008/2009 financial crisis. Sky said Barclays is expected to defend the increase in bonuses by pointing to a robust performance by its investment bank in the United States and the threat it will lose its top staff there to its Wall Street rivals.

Barclays to pay nearly $4 billion in bonuses: Sky [Reuters]

Comments (7)

  1. Posted by Finance Troll | February 6, 2014 at 1:08 PM

    What does an 11% increase on a kick in the junk come out to again?

  2. Posted by Guest | February 6, 2014 at 1:27 PM

    Not having to work weekends.

  3. Posted by Guest | February 6, 2014 at 2:10 PM

    Good for them. They deserve it.

  4. Posted by Vuest | February 6, 2014 at 2:19 PM

    Does anyone else have the song from the Lone Dinosaur stuck in their head?

  5. Posted by Guest | February 6, 2014 at 2:28 PM

    The $300mm they took from the Premiere League Sponsorship debit to tot up the bonus figure to $4bn this year amidst new regulator investigations is probably getting more bang for the buck in advertising of the outrageously high $4bn news than football would.

    Smart move.

  6. Posted by Guest | February 7, 2014 at 11:34 AM

    As somebody who used to work for UBS, I agree and it is good to see a management team with enough balls to stand up to "regulators" and do the right thing for their employees who earned it.

    The lesson, as always, UBS sucks.

  7. Posted by Camelatetotheparty | February 7, 2014 at 11:58 PM

    Kids, do not go into finance. Learn to code. Learn a trade. Anything but finance.