AIB: Pay will be slashed 50% by end of 2014, compared to boom levels

AIB has said that pay across the bank will have fallen by about 50% from 2008 levels once a severance programme and on-going cost-cutting measures take full effect.

The bank said its overall pay bill had already fallen by 31% since 2008, with the chief executive's pay down 76% and senior executives taking a 64% drop in pay, the latter including an average 33% reduction in base salary.