“Base salaries are being increased by somewhere between 5 and 10 per cent, by rule of thumb, to compensate for an overall fall in the remunerative package,” said Mr Springer.
“This is being done in recognition of perhaps a long-term change, in which one can envisage basic salaries in the long term doubling or tripling or quadrupling compared to where they are today and bonuses falling by as much as 80 per cent.”