Nearly half of all bankers would consider moving abroad if overly-restrictive caps on bonuses were to be introduced in the UK, a survey of London-based bankers has found. The findings follow another report this week, which found that the pay packets of recently-hired investment bank associates actually increased last year, despite the global financial crisis.

According to recruitment website eFinancialCareers, a majority (63%) of the UK's financial services professionals now accept that the bonus system needs to be reformed.