Bankers want 10% more pay to make up for loss of bonuses

vivatifosi

I'm finding it really hard to be sympathetic on this one...

"But a trend is now developing where someone has a basic pay of, say, £300,000 but with bonus multiple of only two or three times that."

Anyone else find the use of the word only offensive in this context?

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4790341/Bankers-demand-pay-rises-to-compensate-for-bonus-clampdown.html

Generali

Lots of people who work in banks rely on their bonuses - they build up debt during the year and pay it down (and some) at the end. These people will be in a lot of trouble financially*.

(((hugs)))








*Because they're idiots. And I'm not looking for sympathy for them.

vivatifosi

How on earth can you get in debt with a six figure base salary? Numpties...

Whatever happened to good old middle class deferred gratification?

purch

There are some story's that would be impossible to make up.

This is one of them !!!

daveb975

vivatifosi wrote: »

Anyone else find the use of the word only offensive in this context?

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4790341/Bankers-demand-pay-rises-to-compensate-for-bonus-clampdown.html

It is offensive, but I don't personally have an issue with 'mega' bonuses being provided to those bankers who generate very high returns without too much risk. What represents a good return and an acceptable level of risk needs to be carefully defined and agreed.

I think that the escalation in base salaries that the article refers to is an equal problem. There are very few roles that should genuinely be worth £300k BASIC, and hardly any of those would be within banking.

My preference would to be to keep the basic salaries lower (say, max 150k), and still allow bonus schemes which could pay 10 times that, but these bonuses should be proper bonuses rather than something that is paid out even when bank fail.

PasturesNew

Let them want.

I'm sure if they all handed their notice in in a huff there are plenty of able people who were wanting to do their jobs and are probably just as able if not moreso.
I am late 40s, if I add up my ENTIRE life's earnings, across 30 years of work, often in two jobs, working away from home, travelling up to 50-100 miles to work, even 200 miles for one contract .... £300k is more than the SUM of my lifetime earnings.

And most of you I'd imagine.

Bean_Counter

Payrise? I should be so lucky.

I am in the process of preparing to tell our staff that forget a pay rise, forget a pay freeze - expect a pay cut if you want the company to survive.

So not much sympathy here either.

chewmylegoff

it's not like these shadowy bankers are ruining the economy all over again by asking recruitment agents to get them more money. that's what you go to a recruitment agent for. you don't ask them to find you a job that will pay you less money, in the same way you don't ask a mortgage broker to find you a more expensive mortgage deal.

another boring non-story, somehow twisted into "greedy evil bankers seek to ruin us all", again.

Snooze

PasturesNew wrote: »

Let them want.

I'm sure if they all handed their notice in in a huff there are plenty of able people who were wanting to do their jobs and are probably just as able if not moreso.
I am late 40s, if I add up my ENTIRE life's earnings, across 30 years of work, often in two jobs, working away from home, travelling up to 50-100 miles to work, even 200 miles for one contract .... £300k is more than the SUM of my lifetime earnings.

And most of you I'd imagine.

Hmm, £300k isn't a right lot for 30 years of work :cool: but I guess you're factoring in out-of-work periods as well? But yes, I get your point.

Rob

neas

Seriously the cheek of these guys is laughable.

Their pay should be frzoen for a year and a small rise next year... then they will learn to budget like the rest of us.

savemoney

My heart bleeds for them. I am sure those who lost there job/business/home because of the economic down turn brought on by stupid lending and greed would I am sure be shedding a tear for those poor deprived yet greedy bankers