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The number of FSA staff earning more than £100,000 has almost trebled in the past four years.
Figures obtained by the Financial Times via a freedom of information request show the regulator has 241 members of staff on more than £100,000 a year - up from just 81 in March 2006.
The enforcement department saw the number of employees earning more than £100,000 jump to 35 from 10 four years ago - reflecting the regulator's crackdown on breaches of its rules.
The regulator also awarded bonuses to 2,785 members of staff - almost 85% of its workforce - with the largest payout being 35% of salary.
In the enforcement division, 194 people were granted a bonus of up to 15% of salary and 343 earned between 0% and 35% of their salary.
"The FSA needs to attract and retain high-quality people so needs to offer attractive packages, especially when competing with the private sector for specialist talent," FSA spokesperson Kirsty Clay says.
Hector Sants, the FSA's chief executive, was paid £742,000 in 2009/10, up from £623,000 in the previous year. He gave his £130,000 bonus to charity.
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FSA Salaries
Wow that fantastic news! Someone in the financial services sector doing so very well!!!! I am also pleased to see Hector doing so well, after all his recent strife, poor man; he has had a torrid time and if he is going to make the industry 'really afraid' he is gonna need all the money he can make before moving into a job that is more lucrative. I was also worrying about how the FSA would pay the redundancies for some of these mega salaried employees, you know after they are fired and re-hired into the new consumer friendly regulator? Needn't have worried though - looking at the size of some of the the fines handed out lately by the FSA and the proposed hike in firm fees it is obvious the redundancy and bonus payments have been secured.
Posted by: Chris Ridgeway
FSA Salaries
Was going to compose a statement but words fail me. Continually hear about having to retain staff but rarely hear of anyone leaving the public sector with it's final salary scheme and ability to have unpresidented sick leave due to all the stress!
Posted by: Joanne Adrain
Not a Public body
To Joanne Adrain To set the record straight, the FSA is not a "public" body. It is a private limited company established under one statute law whilst disregarding statute law in other places eg the Limitations Act and the 15 year Longstop, which is actually a right under statute law but disallowed by the FSA - retrospectively.
Posted by: A former IFA expressing own thoughts
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FSA salaries
Obviously the FSA have not heard of a thing called recession. But why should they when they can bleed us dry to pay mega salaries and bonuses.
Posted by: terry