The Bank of Spain raised personnel expenses by 25% last year
The budget includes the 2.5% salary increase provided for in the agreement approved this year, as well as the increase in social contributions. Since 2024 there have been several hires at the top of the organizational chart.
The Banco de España's wage bill has risen 25% since José Luis Escrivá became governor in 2024, amid significant hiring at senior levels. The institution's wage bill now stands at €378 million, influenced by a 2.5% salary increase and higher social security contributions. In 2023 and 2022, there were 74 and 114 new hires respectively, including several senior appointments.
Escrivá has made several key appointments, including Mayte Ledo as director general of Strategy, People and Data, and Inés Calderón as director of Communication. The bank has also seen several high-profile departures, including Ángel Gavilán and Alejandro Álvarez.
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