The number of IT staff in the City who receive bonuses has boomed in the last year, with UK heads of IT now earning packages of up to #275,000. The minimum guaranteed bonus, once restricted to traders, is now much more prevalent. Core IT staff, in particular those in infrastructure and support roles, regularly receive 100% bonuses, according to a survey by specialist financial markets recruitment firm Sheffield Haworth. Stock options for senior IT managers have also gained in popularity, thanks to a knock-on effect from the dotcom phenomenon. ‘Last year, many financial institutions focused on developing new trading systems. The focus is now on getting connectivity into those systems,’ said David Pitts, a senior associate at Sheffield Haworth.
Full story can be found at: www.vnunet.com/news/1121621.
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