Christine Lagarde, President of the European Central Bank (ECB), earns significantly more than the officially disclosed salary, a Financial Times investigation has revealed.
Lagarde received €466,000 in 2024 as ECB President, making her the highest-paid official in the European Union. Additionally, she benefits from perks like housing support, valued at approximately €135,000 annually.
She also earns around €125,000 annually through her role on the board of the Bank for International Settlements (BIS), a position tied to her mandate as ECB President.
The ECB declined to comment on the Financial Times analysis but clarified that Lagarde’s salary is set by a remuneration committee and the board of directors. They noted the salary structure has remained unchanged since the ECB’s establishment in the 1990s, except for annual adjustments applied to all employees.
In contrast, Federal Reserve Chairman Jerome Powell, despite also serving on the BIS board, receives no extra pay for this role due to US laws prohibiting federal officials from accepting compensation from foreign institutions. Powell’s salary is currently capped at $203,000, or around €173,000.
