City split over £1.4m for analyst

THE record £1.4m payout to unfairly sacked Schroder analyst Julie Bower raised few eyebrows among City high fliers. A tribunal ruled that 35-year-old Mrs Bower's £25,000 bonus in 1999 was 'insultingly low' compared with those paid to male colleagues.

While most City bonuses have been slashed by up to 70%, stars in profitable sectors such as bonds, foreign exchange and hedge funds, easily command packages of £1m or more.

But among Bower's peers, many of whom have seen past pay packets of £500,000 reduced to £150,000 this year, the ruling is seen as more than generous. Carol Leonard, chief executive of headhunter Leonard Hull International, said rewards varied enormously for analysts, the experts who weigh up the investment attractions of individual shares.

Analysts, who are just glorified researchers according to their critics, do not command the biggest packages, whereas fee earning 'rainmakers' who bring in business or head large, profitable departments continue to be well rewarded.

Schroder Securities says it will appeal.