Employees of investment banks and insurance companies received an average bonus of £12,500 per person in last year’s bonus round.

According to the latest figures from the Office of National Statistics, banks and insurers paid out a total of £14 billion in the 2010/2011 tax year, compared to £19 billion in 2007/8, before the global credit crisis.

By comparison, bonus payments in the rest of the economy totalled £21 billion in 2010/2011.

In the same financial year, the average private sector worker received £1,670 in bonuses, nearly ten times higher than the average public sector bonus of £180.

Barclays' chief executive Bob Diamond (pictured) was reportedly paid a bonus of £6.5 million in addition to his £250,000 salary last year.

Job roles in the financial services and insurance industry are responsible for around five per cent of all available positions, but the sector accounts for nearly 40 per cent of all bonuses paid.

Bonuses in the financial services sector were responsible for nearly 25 per cent of individuals’ pay.

The figures reported by the ONS includes bonuses paid to individuals working for the part and fully nationalised banks such as Royal Bank of Scotland and Lloyds Banking Group.

Across the whole economy, bonus payments during the financial year April 2010 to March 2011, totalled £35 billion – the same as the previous financial year.