LONDON, U.K.: A surge in high-paying banking jobs across Europe has done little to close the gender gap at the top of the financial sector, with men continuing to dominate the highest-earning roles.

A report from the European Banking Authority (EBA) showed that nearly nine out of 10 bank employees earning at least 1 million euros (US$1.2 million) annually in 2024 were men. The disparity was even more pronounced in investment firms, where 97 percent of top earners were male.

The findings underscore the limited progress in improving gender balance in senior roles, despite years of regulatory focus and industry commitments to diversity.

The number of high earners at banks and investment firms rose 9 percent to 2,554, supported by strong profitability driven by higher interest rates, robust trading activity during volatile market conditions, and a rebound in dealmaking.

However, the increase in million-euro earners has not translated into meaningful change in representation.

At credit institutions such as banks, men accounted for just over 89 percent of those earning seven-figure salaries, broadly unchanged from previous years. Investment firms recorded an even wider gap, even as the number of top earners grew sharply.

The EBA has repeatedly warned that progress at senior levels remains slow, and the latest data reinforces concerns that structural imbalances persist across Europe's financial system.

The regulator said improving gender balance, particularly in higher-paid and leadership roles, remains a key priority for both firms and policymakers.