City of London workers took home the highest average bonuses of any major financial services centre around the world yet many finance professionals say their pay-out was lower than expected.

The Global Bonus Survey, conducted by the eFinancialCareers, shows London topping the table for bonus rates, followed by Wall Street, Sydney, Hong Kong, and Singapore. The research indicates that the average bonus increased by 29% in 2013 compared to last year.

Nearly half of UK respondents (49%) reported an increase, up from 40% last year, while only 18% saw a drop in the size of their bonus.