Question 6 Figure 1: Market share of Current Accounts of UK banks At the moment only 3%% of personal and 4%% of UK business customers switch to a different Account market share bank in any year (Source: CMA, August 2016] 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Doyds Bank Pic (hq: London) 27% Barclays Bank Pic (hq: London) The Royal Bank of Scotland (hq: Edinburgh) 18%% HSBC Bank Pic (hq: London) 12%% Santander UK Pic (hq: London) 10%% Nationwide Building Society (hq: Swindon) 6%% TSB Bank Plc (hq: Edinburgh) 4.2% Co-operative bank (hq: Manchester) 2% Extract A: Majority of HSBC's retail bank staff will not receive pay rise in 2016 The majority of managers at HSBC's UK retail and wealth division will not receive a pay rise this year, a spokesperson for the company confirmed, despite the bank dropping a policy to enact a complete pay freeze. Junior staff may receive a small pay increase, but no top-level managers will receive an increase in salary. In the fourth quarter of 2015 HSBC introduced a hiring freeze, which will remain in place. "As flagged in our investor update, we have targeted significant cost reductions by the end of 2017" the spokesperson said. A cashier earns an average salary of $15,988 with there being a pay differential of less than $1,000 per annum between employees in the first five years of their career and those with more than 20 years' experience. A recent survey by Deloitte found that the popularity of a career in banking had fallen by 4.3 percentage points between 2008 and 2015. The financial meltdown in 2006 has led to new regulations being heaped upon the entire sector, something which has attracted a great deal of attention and may explain the reduction in the numbers of employees looking to work in the sector