The President of the European Central Bank (ECB), earned a total of approximately €726,000 in 2024, significantly more than the €466,000 “basic salary” officially reported by the bank. According to an analysis by the Financial Times, Christine Lagarde’s total remuneration is about 56% higher than the published figure, making her one of the highest-paid civil servants in the European Union.
Lagarde’s basic salary alone is higher than that of European Commission President Ursula von der Leyen, who earned around €390,000 in the same period. In addition, von der Leyen has recently increased her own salary and those of other EU officials, with a 3% retroactive pay rise bringing her monthly basic pay to approximately €35,800.
Lagarde also receives roughly €135,000 in fringe benefits for housing and other expenses, and an estimated €125,000 for her role as a member of the Board of Directors at the Bank for International Settlements (BIS), which is not disclosed in the ECB’s annual report.
For comparison, the chairman of the U.S. Federal Reserve, Jay Powell, also sits on the BIS board but does not receive additional compensation due to U.S. rules restricting foreign salaries. Powell’s salary is currently €172,720, meaning Lagarde earns almost four times as much.
While the ECB noted that Lagarde’s salary was determined when the bank was established in 1998 and adjusted annually like other employees, some experts have criticized the lack of transparency in reporting additional sources of income. The analysis also estimated that Lagarde could expect an annual pension of around €178,000 from 2030.
