Estonia -High wages and poor performance in asset management -March 26, 2014

In a published pay earning top list for the banking sector asset management companies are at leading positions. With employees at four funds, salaries exceed even law firms. Average salary at the number one, Danske Capital, is five times the country’s average, and thrice the average of financial sector. However, the pension funds managed by these companies face criticism due to poor results. According to an OECD report the pension funds are the most expensive and the worst in European Union. The Financial Supervision Authority has also criticised pension funds for their excessive salaries.



For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) or the communications officer at the ETUI, Mariya Nikolova For previous issues of the Collective bargaining newsletter please visit You may find further information on the ETUI at, and on the AIAS at

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