Annual income of top-earning French civil servant
France's Bank of France Governor, François Villeroy de Galhau, holds the highest civil servant salary in the country, earning an annual gross income of approximately 310,678 euros. This is equivalent to 300 minimum wages, as per a report from CNews.
In addition to his base salary, he receives housing and international allowances. His housing expenses are covered by the Bank of France, as stated in the Monetary and Financial Code. He receives a monthly taxable housing allowance of 6,399 euros.
President Emmanuel Macron, on the other hand, earns 192,468 euros per year. It is worth noting that some of Villeroy de Galhau's European counterparts are better-paid. For instance, the governor of the Banca d'Italia receives an annual salary of 480,000 euros, while the governor of the Bank of England receives around 687,905 euros per year.
Villeroy de Galhau's appointment in 2015 drew criticism from some economists due to his previous tenure at BNP Paribas, where he served as deputy chief executive officer. Concerns about potential conflicts of interest led a group of 150 economists to sign a manifesto. To address these concerns, Villeroy de Galhau chose to make his salary public in annual activity reports.
In the wider context of central bank governors' salaries across Europe, direct comparisons are limited by public disclosures. However, available data provides some insights. For instance, the President of the European Central Bank, Christine Lagarde, earns approximately US$479,000 annually. Thesalaries of other European central bank governors generally fall within the range of €300,000–€500,000. Exact figures and regular updates may vary due to differences in national pay scales and accounting of benefits and allowances.
The governor of France's Bank of France, François Villeroy de Galhau, manages a salary that is higher than that of the country's president, earning approximately 310,678 euros annually. This remuneration, including housing and international allowances, is markedly higher compared to some of his European counterparts in finance, such as the governor of the Banca d'Italia and the governor of the Bank of England who receive annual salaries of 480,000 euros and 687,905 euros, respectively. Such contrasts in business earnings, along with potential conflicts of interest from previous positions, have sparked debate in politics, with economists raising concerns and calling for transparency in general-news reports.
