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

itsnever2lateisit?

If it's true then it's laughable. Bankers ought to understand market forces better than anyone else. If they don't think their renumeration is enough for their 'skills' then get another job, like the rest of us have to. I am fed up of these 'please wipe my bum' stories from bankers

fatpig_2

The City Spivs, most of whom haven't done a decent day's work in their entire lives, richly deserve the opprobrium now being heaped upon their smelly heads.

SamIAm_3-2

lynzpower wrote: »

Lets face it- its been all over the papers- "get them to pay it back"

I read about the bonuses, the outcry and the call for not paying them but the "get them to pay it back" passed me by.
Not paying them to begin with is one thing, but paying them and then asking for them back with interest is entirely another. I assume also that she wasn't told she had to pay it back before she received it.

Is it just me or has common sense long since disappeared out of the window.

lynzpower wrote: »

She - from what i can ascertain on FB) is all of a quandary and is paralysed not knowing what she is going to do to pay it back.
I personally would go to any court in the land to make this NOT happen but then again im not fearful for my job as she is- she works somewhere within HBOS.

I'm not surprised that she is all of a quandary; I would be too. I can't believe that she would legally have to pay it back either - surely it is worth fighting against it!

itsnever2lateisit?

SamIAm wrote: »

I read about the bonuses, the outcry and the call for not paying them but the "get them to pay it back" passed me by.
Not paying them to begin with is one thing, but paying them and then asking for them back with interest is entirely another. I assume also that she wasn't told she had to pay it back before she received it.

Is it just me or has common sense long since disappeared out of the window.



I'm not surprised that she is all of a quandary; I would be too. I can't believe that she would legally have to pay it back either - surely it is worth fighting against it!

It might be an indemnity bonus scheme. I operated such a system in the Insurance industry in the 1990's. Basically the salesperson is paid a bonus on the annual value of the policy sale, however if the customer cancels the policy before the year is up the bonus is also repaid to the company

SamIAm_3-2

itsnever2lateisit? wrote: »

It might be an indemnity bonus scheme. Operated such a system in the Insurance industry in the 1990's. Basically the salesperson is paid a bonus on the annual value of the policy sale, however if the customer cancels the policy before the year is up the bonus is also repaid to the company

I think I understand; she may have been paid the bonus and subsequent to this the policy is cancelled thus requiring the bonus to be repaid?

Even so, presumably only part of the bonus would have to be repaid (unless only one policy sale was made) and surely not with interest?

Wouldn't this normally apply to people in Sales and not Marketing?