UK bonuses rise in private sector, ONS reveals
Bonus payments rose 4.9% to £40.5bn in the year to April 2014, driven by the private sector, the Office for National Statistics said on Friday.
The private sector saw bonuses increase 5.8% to £39.1bn during the period, compared to a 16.3% fall in the public sector to £1.3bn.
The privatisation of Royal Mail last year contributed to a huge gap between private and public sector bonuses.
The finance and insurance industry helped contribute to the overall gain in bonuses, rising 2.9% over the year.
The average bonus per employee was £1,500 across the UK economy. The bonus per employee in the financial sector rose to £13,800 from £11,900m last year, while public administration workers received in average £100 per person.
The lowest bonuses per employee were paid in the education and health and social work industries at less than £100, which the ONS described as "negligible".
Bonuses as a percentage of total pay increased to 6% for the economy, the highest level seen since before the economic downturn in 2008 when they reached 7.1%.
JF