Japanese Bankers Feel Pain of Negative Rates in Their Paychecks
This article is for subscribers only.
It’s not just Japanese banks that are feeling the squeeze from the Bank of Japan’s negative interest rates, their employees are too.
The latest data compiled by Tokyo Shoko Research, a private firm, shows that average wages in the construction industry are now 16% higher than the salaries of banking and insurance staff, with the gulf widening as bankers’ pay falls.