Jenkins has promised big changes in the culture and behavior of the bank. He took the job after Bob Diamond was forced out in the wake of the Libor scandal.
Jenkins is not taking a bonus for a second year running but said the bank had to pay for performance in a competitive market.
The increase in bonuses took the proportion of income paid out to Barclays investment bankers up to 43% last year -- way above the mid-30s it says it wants to achieve in the medium term.
"It cannot be right in any business for the executive bonus pool to be nearly three times bigger than the total dividend pay out to the company's owners," said Roger Barker, director of corporate governance at the Institute of Directors. "The question must be asked -- for whom is this institution being run?"
Investors took a dim view of the news Tuesday, sending shares in the bank down by roughly 6% in London trading.
Apart from the costly Libor affair, Barclays has been hit by scandals over the sale of a range of products.