The head of British International Investment has defended a leap in the number of top earners at the organization, arguing they join to “make a difference to people’s lives” — and could easily earn more in the City of London.
Nick O’Donohoe also said salaries have never “been significantly out of whack” with other European development finance institutions and multilateral development banks, after a “benchmarking process” every three years.
BII’s latest annual accounts show 75 of its staff members earned more than £250,000 (around $323,000) in 2023, an increase from 57 in 2022, of which 35 took home in excess of £300,000 last year, compared with 30 the year before.