City workers in line for an average bonus of almost £125,000

City workers are looking forward to an average bonus of almost £125,000, according to a new survey.

Staff in the banking and finance sector said they expect their annual reward to rise by an average of 21%.

The survey of 1,500 City bosses was carried out by recruitment firm Astbury Marsden.

The sharp rise in payments comes ahead of a new EU cap on bonuses which comes in to force in January.

Staff in Private Equity are likely to get the biggest bonuses, with an average of more than £145,000 - 115% of their average salary.