London bankers at Goldman Sachs are in line for a pay and bonus pot of £1.5billion, despite a fall in profits.
With Britain in the grip of a recession, the announcement will only add to public fury over City payouts.
The company, which is awarding its workers £8.2billion globally, has 5,300 staff based in Britain.
Business Secretary Vince Cable said: 'These pay awards reflect a basic lack of reality about the world we now live in.
'The concern is that it could have a knock-on effect throughout the banking sector at exactly the time the Government and businesses are urging restraint.' Read More