Should bankers receive bonuses?

boyse7en

Yes, in full, otherwise all the talent will scarper to better paid jobs elsewhere.

If their bonuses are contracturally guaranteed then how can you not pay bonuses to people who have achieved the targets they were given?
It the same as, in my industry, an advertising sales manager. They get paid a basic (fairly low) wage, and then get paid a bonus based on the amount of revenue they achieve during the year. If we got to the end of the year and decided to not give out bonuses, then I fancy that most of our as team would look for jobs elsewhere, and we would find it very difficult to hire new ones as we would have a reputation of breaking contact agreements.

Cannon_Fodder

Yes, but only paid retrospectively, once long-term gains are realised.

http://news.bbc.co.uk/1/hi/uk_politics/7878418.stm

" Speaking in London on Monday morning Mr Brown said: "We are leading the world in sweeping away the old short term bonus culture of the past and replacing it with a determination that there are no rewards for failure and rewards only for long-term success." "


" Ms Cooper said there was "a lot to be said" for going down the same route as the US and banning future cash bonuses for bank staff but said bankers should also look to their own actions. "


The Idiot doesn't know whether we are leading or following, so how the hell does he know where he is going...???

Grrrr.

grade15

Yes, but only paid retrospectively, once long-term gains are realised.

I think the bonuses should be paid back to us taxpayers.. as we own 70% of RBS (example) we should get 70% of the bonus..for all the risk we have paid for these banks.

Generali

Yes, but in shares only.

I voted payable in shares only. Actually I think they should be payable in options only as it's easier to lock someone in with an option and it's more tax efficient but you didn't have it as a choice.

Many bankers aren't in real risk-taking areas, eg operations staff and branch workers. Many in these sort of jobs are quite low paid. They should receive bonuses in cash.

chewmylegoff

ad9898 wrote: »

I voted for shares only, it would hopefully point them in the direction of not p1ssing on their own chips, as has happened.

whilst it is clearly better than paying them in cash, i believe lehmans paid 75% of its bonuses in shares (might have been lower, but was at least 50%). didn't seem to help it much.

johnycoldears

No, the !!!!!!!s messed up our economy and should count themselves glad they have a job at all.

There should have been an extra category:

No, and they should be taken outside, robbed at gunpoint, held upside down until the loose change falls out their pockets, then shot and their heads placed on pikes outside canary wharf

Generali

Yes, but in shares only.

johnycoldears wrote: »

There should have been an extra category:

No, and they should be taken outside, robbed at gunpoint, held upside down until the loose change falls out their pockets, then shot and their heads placed on pikes outside canary wharf

Does that include the teller at your local bank branch or just the Fat Cats?

chewmylegoff

Generali wrote: »

Does that include the teller at your local bank branch or just the Fat Cats?

i would personally extend it to anyone who has ever been in a bank, that way we can make sure no-one ever borrows eight times more than they can reasonable afford to repay again.

piggeh

No, the !!!!!!!s messed up our economy and should count themselves glad they have a job at all.

I think they should get the same bonus I got - a tin of Heroes or a tin of Quality Street, their choice of course.

thriftybabe

No, the !!!!!!!s messed up our economy and should count themselves glad they have a job at all.

I cannot believe this is even being considered. There should be no bonuses at all this year due to the bail out. Then after that it should be on performance.