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Half of Bank of England staff think they are underpaid

On pay, staff gave a sliding scale indicator on whether they thought they were fairly compensated for their work

In January, a deal was agreed for the Bank of England's 4,000-plus staff to receive a 3.5% pay rise, plus a 1% salary top-up focused on its lowest paid ranks
In January, a deal was agreed for the Bank of England's 4,000-plus staff to receive a 3.5% pay rise, plus a 1% salary top-up focused on its lowest paid ranks Photo: Dan Kitwood/Getty Images

More than half of the Bank of England's staff thought they were not paid fairly before striking their latest remuneration deal, an internal survey obtained by Financial News shows.

Staff at the central bank threatened to strike after their union rejected a new pay offer in December, as Threadneedle Street's workers expressed their frustration at governor Andrew Bailey's calls to exercise wage restraint to curb inflation — while not being able to remember his own salary.

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