Compensation and benefits for EIB staff

This page refers to compensation and benefits applicable to EIB employees only. For information regarding the remuneration of members of the Governing Bodies, please click on http://www.eib.org/about/structure/governance/remuneration.htm.

The EIB offers a competitive terms of employment and compensation and benefits package.

Basic salaries and variable remuneration

EIB basic salaries are determined according to the level of responsibility of the job.

Typical entry salaries are as follows:

Salary advancement and promotion to higher responsibilities are based on professional merit. Evaluation of merit is expressed in an overall mark awarded in an annual performance appraisal exercise conducted by management for all staff members.

The EIB may, under certain conditions, distribute an annual reward. The total amount paid in 2012 for the 2011 performance represented approximately 16% of the total annual basic salary budget.

This performance award is partly distributed to staff based on the Bank’s performance and partly to individual employees according to their performance. The total annual performance award cannot exceed 35% of an individual’s annual basic salary.

The Bank conducts regular remuneration surveys to monitor the external competitiveness of its pay conditions.

Income tax

The Protocol of Privileges and Immunities of the European Communities applies to staff of the EIB.

EIB staff are liable to pay income tax to the European Union on the salaries and pensions paid to them by the Bank. This tax is withheld at source by the EIB. Staff are exempt from paying national taxes on their EIB income.

Tax scale

The tax scale is progressive: the greater the taxable income, the higher the rate of tax. The scale is divided into income brackets with increasing percentages of taxation, from 0% to 45%. The original tax scale was laid down in 1968 by EC Regulation No 260/68 on tax. The table is adjusted on a regular basis by the Council of Ministers of the European Union.

Benefits and other advantages

The Bank’s remuneration package includes a comprehensive range of benefits and advantages that include, subject to eligibility:

Financial

• Relocation allowances & assistance* 
• Expatriation allowance*
• Family, dependent child and school allowances*
• Annual travel allowance for you and your family*
• A comprehensive Healthcare Scheme for you and your dependants
• Insurance coverage for life and accidents
• A defined benefit Pension Scheme
• Subsidised housing loan
• Subsidised restaurants for staff in EIB premises in Luxembourg
• Free public transport within the city of Luxembourg
• Free parking
• Sponsored membership of the "Cercle" for sports and cultural activities
• Guaranteed place, free of charge, at the European School for children of staff based in the Luxembourg office

Non-financial

• A minimum of 24 days of annual leave, plus special leave* days
• 17 Bank holidays
• Flexible working arrangements
• Training and development programme
• Internal mobility programme

*subject to eligibility

Disclosure of financial information on Key Management Personnel

Information regarding the financial accounts of key management personnel can be found in the EIB Financial Statements.