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Bonuses being put into investments, financing research reveals
Mon, 26 Mar 2007
Thousands of people who received a bonus during the past 12 months put some of the money towards investments and savings, according to a new financing survey.

Research from financial services provider Birmingham Midshires has discovered that 29 per cent of British employees received money on top of their monthly pay check in the last year, with the average bonus being £1,758.

And its survey of spending habits suggests many recipients are hoping to make the money work for them, with a sizeable number putting some of the cash into investments and more than a third putting it into a savings account .

Jason Robinson, director of savings operations at the financial services provider, welcomed the findings.

"We all know that it can be extremely tempting to spend a large one-off payment but the research found that over a third of people are squirreling away their bonus and we think this is a good start," he said.

Typically, people working in London's financial district receive some of the highest bonuses in the country.

According to breaking research from the Napier Scott Executive Search company, the average UK-based managing director in an exotic trading position post typically receives £150,000 as a basic salary and £2 million in bonuses.

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