L’OCDE et la finance : focus sur la rémunération et le too big to fail

L’OCDE a publié le 15 juin 2015 un travail de recherche intéressant intitulé : « Finance and inclusive growth » (OECD Economic Policy Paper, No 14, ici). Si le travail est dense et que toutes les thématiques abordées ne touchant pas le blogue, je signale tout de même ces observations de l’OCDE sur la rémunération dans la finance :

• Observation de l’OCDE : The high level of pay in the financial sector is an important factor behind this link and has fuelled public questioning about the role of the financial sector. Evidence provided in this study shows that the financial sector generally pays its employees more than what workers with similar profiles get elsewhere. This premium increases more than proportionately with remuneration levels and becomes very large at the top. Moreover, male financial sector workers earn a substantial wage premium over female financial sector workers, especially at the top.

• Solution possible : Compensation reform can help to encourage decision-taking practices that take better account of possible long-term consequences. The large wage premia identified by the empirical analysis, especially at the top, suggests that such reforms can leave the financial sector attractive even if they result in lower pay levels. General efforts to improve gender pay equality would benefit the financial sector, where the gender pay gap is substantial, especially at the top

Notons que concernant la taille des institutions financières et ses conséquences en termes de too big to fail, l’OCDE indique qu’une avenue serait possible : « One way of ending too-big-to-fail would be to break up financial institutions into sufficiently smaller entities. Alternatively, reforms can focus on separating the utility functions of too-big-to-fail banks from their more risky activities and on requiring large institutions to set up credible resolution plans, so that they can be closed orderly if they fail the test of the market place ».

À la lecture de ce document, il ya assurément du travail ! Comme le rappelle l’OCDE, « there can be too much finance ».

À la prochaine…

Ivan Tchotourian

Ce contenu a été mis à jour le 19 juin 2015 à 10 h 45 min.