Another Bank gets it's bonuses at our expense.

Ian_Griffiths_Halifax

Rochdale_Pioneers wrote: »

In my company I get a bonus based on personal performance vs targets, divisional performance and group performance. I suspect that a lot of the bank staff are the same - they can hit their own targets and work for a profitable division but see the group make huge losses because of botched mergers or catastrophic decisions in the investment bank division.

I understand the anger being thrown around about bonuses, but ultimately that should be aimed at the people at the top who are responsible for the disasters. As for shareholders I have no sympathy. You buy shares you take a risk - its explicit that you can lose all your money. If the bank staff have a contract that states they get a bonus if they perform and they hit all their targets and make the bank money, they should be paid on that basis. Its a world of difference from Chief Execs with guaranteed bonuses no matter what they do.

That's fine. So that'll be only the people in the Halifax Insurance Department then? They are, it seems, just about the only profitable part of the business.

If the business is split into separate businesses, which they are, then each businesses staff should be rewarded according to the profits made. If one part of businesses isn't profitable, then as "Colleagues" they have all contributed to the non-profitability.

chewmylegoff

barrooo wrote: »

Have to agree with many people on here, I don't understand why people are getting a bonus just for doing their jobs.
I used to work in a sales environment and bonuses were only paid if sales were above target, if not then you had to be satisfied with the basic salary.

yeah, but if your sales were above target, and everyone else missed their target, you would still get paid your additional sales commission, as previously agreed.

chewmylegoff

Ian_Griffiths_Halifax wrote: »

That's fine. So that'll be only the people in the Halifax Insurance Department then? They are, it seems, just about the only profitable part of the business.

If the business is split into separate businesses, which they are, then each businesses staff should be rewarded according to the profits made. If one part of businesses isn't profitable, then as "Colleagues" they have all contributed to the non-profitability.

every time i see one of your posts i just assume you work for halifax, which is really confusing me in this context!

how do you get remunerated, as a mortgage advisor? any performance related element based on number of mortgages agreed?

Max_Headroom_3

halifax_worker wrote: »

yes i do get paid a wage to do a job, which i do. but why should i suffer for some big witts mistakes?? its not as if im going to get a 30k bonus its aprox 1k whats the big deal.

Why should Woolworths staff suffer by losing their jobs when that isn't their fault and they've done their job well? Because the company they work for has run out of money to keep going, that's why.

The company you work for has also run out of money to keep going so under normal circumstances you would be joining the Woolworths staff on the dole. However due to taxpayers money (ie people like me), you're still in a job. Yet you still want your bonus on top!

As for me, having had my tax money keep you in a job, guess what will happen if the company I work for runs out of money? I (having kept you in a job with my tax money) will be out of a job and joining the Woolworths employees on the dole.

Can you understand then why I might feel somewhat miffed that my money, having been used to keep your company in business (which I object to) is now being spent in part on bonuses for the lucky staff who were able to keep their jobs because of my tax money?

Rochdale_Pioneers

Ian_Griffiths_Halifax wrote: »

That's fine. So that'll be only the people in the Halifax Insurance Department then? They are, it seems, just about the only profitable part of the business.

If the business is split into separate businesses, which they are, then each businesses staff should be rewarded according to the profits made. If one part of businesses isn't profitable, then as "Colleagues" they have all contributed to the non-profitability.

Thats fine by me - its not a blanket "lets pay bonuses" message that I have. If you perform and your team performs and is profitable then you deserve to have your contract honoured.

halifax_worker

I also pay tax so its not just YOUR money that has bailed halifax out its mine.

halifax_worker

Ian_Griffiths_Halifax wrote: »

When you took the job, what bonus where you told you WOULD get, not COULD, but WOULD?

What were other jobs paying that you could have taken up instead of this one.

no actually there wernt any other jobs i could have taken at the time i live in a rural area where jobs are hard to come by.

Innys

halifax_worker wrote: »

I also pay tax so its not just YOUR money that has bailed halifax out its mine.

Technically correct, but totally missing the point.

If it was only Halifax's employees taxes which was being used to bail them out, the rest of us couldn't give two hoots if a bonus was paid.

However, I don't think that's the case - do you?

It is possible, just possible, that there are more taxpayers around who don't work for Halifax than those that do. If so, and because we live in a democracy (well, kind of), the majority opinion counts.

I may be wrong, but I suggest the majority of tax payers do not want any bonuses paid to Halifax, Lloyds or RBS - irrespective of what the Halifax employees think is fair.

Ian_Griffiths_Halifax

chewmylegoff wrote: »

every time i see one of your posts i just assume you work for halifax, which is really confusing me in this context!

how do you get remunerated, as a mortgage advisor? any performance related element based on number of mortgages agreed?

I don't, haven't, and never will work for the Halifax! My business is in Sowerby Bridge, Halifax. The Name Ian Griffiths was taken on here by the time I joined, and I didn't want to make up a silly name like Mr Tiddles or Wellen Dowed.

I am a Mortgage Broker protecting the peoples pockets and helping them make and save money along the way.

Martin Lewis - Money Saving Expert! He's a Money Saving Minion by comparison

Ian_Griffiths_Halifax

halifax_worker wrote: »

no actually there wernt any other jobs i could have taken at the time i live in a rural area where jobs are hard to come by.

You don't answer the question of what you were told you WOULD earn in bonuses. I suspect that is because you weren't guaranteed any. Please correct me if you were and if that's the case, then well done, you will have a case to take them to court if they don't pay it, but I suspect that HBOS will have their employment contracts watertight.

If you live in a rural area, then I also suspect that the average wage locally is low, possibly agriculturally dominated employment. If you ask some of them agricultural workers what they earn, I bet they are on less than your basic but have to get their hands dirty, and not only when they change the photocopier toner cartridge.