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City bonuses mean more millionaires

City bonuses mean more millionaires

Christmas bonuses in the City of London this month could produce 200 multi-millionaires and a couple of thousand people receiving one million pounds. Some estimates suggest that at least 6,000 people will receive at least £250,000. At Goldman Sachs for example, £4.45 billion could be shared amongst 15,000 people, with the majority going to the 165 managing directors of the bank.

Some of these recipients will have received similar bonuses in the past, so these figures do not suggest new millionaires. Whether any of this income is donated to charity is not known.

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Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world's first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp.

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