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FCA staff brace for reduced earnings as bosses circulate new salary calculator
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Staff at the Financial Conduct Authority are bracing for four years of lower salaries after bosses at the UK watchdog circulated a tool to enable their 4,200 employees to calculate their future earnings under a proposed pay restructuring.
In early November, the FCA sent its employees an excel spreadsheet calculator, which enabled staff to estimate their future pay under a proposed pay restructuring by entering values such as current salary, pay grade, and expected performance grade, according to
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