France becomes Europe’s leader in millionaire bankers
The number of millionaire bankers, meaning bankers earning more than one million euros a year, has risen sharply in France in recent years. Between 2019 and 2024, it more than doubled, from 270 to 561 professionals, according to data from the European Banking Authority (EBA). This puts France at the top of the European Union, ahead of Germany for the first time.
Momentum driven by the Paris financial centre
This increase is largely explained by the strengthening of Paris as a financial centre in the post-Brexit context. The return of strong activity in mergers and acquisitions and on the financial markets has helped push pay upwards, particularly in investment banking.
Across Europe, 2,266 bankers crossed the one-million-euro threshold in 2024, a record level. In addition, 288 professionals from investment funds also reached this level of pay, some of them in France.
Profiles concentrated in market finance
Unsurprisingly, the highest earners are concentrated in:
- executive management teams
- corporate and investment banking roles
- market activities, particularly traders
Competition between institutions to attract experienced profiles is also contributing to this wage inflation.
A sector that remains very male-dominated
Despite stated efforts on diversity, these high salaries remain largely dominated by men, who account for nearly 90% of the profiles concerned. Progress has remained marginal in recent years.
Millionaire bankers in France: solid banking results in the background
This growth comes against a backdrop of strong profitability for the major French banks. In 2024, the leading groups in the sector made combined profits of nearly 33 billion euros, with even more favourable prospects for 2025.
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Source (in French): La Tribune