Barclays pay: how the bonuses work

Barclays branch sign

Each of the 140,000 staff members at Barclays has a target set at the start of each year against which their pay is determined by the year end. In 2013, for the first time, 150 senior managers had an element of pay linked to what the new boss Antony Jenkins calls the "five Cs".

This focus on customers, colleagues, citizenship, conduct and company was introduced following the public furore caused by the £290m fine for rigging Libor, the scandal that sparked the promotion of Jenkins from running the retail bank to group chief executive when Bob Diamond quit in July 2012.

From 2014, these five Cs will now be taken into account when setting the pay of all Barclays staff. Staff are being told their pay will be linked not just to what they achieve but how they go about it.

The five Cs are included in what Jenkins called a balanced score card, which sets eight goals to be achieved by 2018.

Customer and client

Improving the rating by customers from fourth to first and move from a fourth position in "share of wallet" across the industry to inside the top 3.

Colleague

Increasing the number of women in leadership roles to 26% from 21% and improving the "engagement" of colleagues from 74% to 91%.

Citizenship

Hitting the targets in the bank's citizenship plan, which sets out a number of promises about paying taxes and treatment of customers.

Conduct

Improve the measure in the YouGov survey from 5.2 out of 10 to 6.5.

Company

Having return on equity (a measure of shareholder performance) that is greater than the cost of equity (the cost of doing business) and also have core tier one capital ratio (a measure of financial strength) of 10.5%, up from 9.3% now.

Powered by Guardian.co.ukThis article was written by Jill Treanor, for theguardian.com on Tuesday 11th February 2014 10.35 Europe/London

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