BANKERS' BONUSES- We can do something!!

chambta

BarclaysManager wrote: »

I think we all know the UK won't take any strong action unless the US does first. Not because it's a "poodle" issue, but because we "share" a pool of bankers who spend their lives moving from one side of the pond to the other. The UK isn't going to do anything that strong without the US doing so first - the Government cannot reasonably risk the financial equivalent of a brain drain and losing London's status as a premier economic center.

(For disclosure I'm from over there, so you can call me arrogant if you want.)

That'll explain you using 'center' rather than 'centre' then.

QueensferryRoss

Remember, these bonuses you read about are those given to the high flyers etc.

The teller on the counter at your local bank doesnt coin it in. A really good year will give him/her a 10-15% annual bonus however their salary is low enough to rely on the various bonuses to make it up.

One of the big banks pays some of its branch managers as little as £15,500 a year basic, who said bank managers are rich....

Biggles

BarclaysManager wrote: »

(For disclosure I'm from over there, so you can call me arrogant if you want.)

As, I suspect, is this first-time poster OP ('Mutual bank' isn't a phrase used here, same with 'where folks store their money' and 'betting office') and not from Bristol at all. Tho I've no idea what the motive is for such a daft post.

Extant

chambta wrote: »

That'll explain you using 'center' rather than 'centre' then.

Sometimes I correct myself.

Sometimes I just write COLOR everywhere to annoy you lot.

Extant

QueensferryRoss wrote: »

One of the big banks pays some of its branch managers as little as £15,500 a year basic, who said bank managers are rich....

Who is that?

chambta

QueensferryRoss wrote: »

Remember, these bonuses you read about are those given to the high flyers etc.

The teller on the counter at your local bank doesnt coin it in. A really good year will give him/her a 10-15% annual bonus however their salary is low enough to rely on the various bonuses to make it up.

One of the big banks pays some of its branch managers as little as £15,500 a year basic, who said bank managers are rich....

Absolute true. And some of them have 'deputy' branch managers on the same salary scales as the general branch staff and have them run the branch too.
From experience people think your average bank staff member is paid much more than the reality. Indeed working in a branch and seeing how much customers get paid shows how poorly they compare.

chambta

BarclaysManager wrote: »

Who is that?

RBS/Natwest won't be too far off that at the lowest level. Not sure who the poster refers specifically to though.

QueensferryRoss

I wont name the bank in question but thats the basic starting salary for a person in the role of Branch Manager in a small/small to medium branch. (4-7 staff).

The tellers/sales staff basic ranges from £12500-£14500.

If you add in unpaid overtime I know colleagues (I'm in the industry) would could earn similar working same hours in a Tesco/Asda etc.

Extant

chambta wrote: »

RBS/Natwest won't be too far off that at the lowest level. Not sure who the poster refers specifically to though.

The lowest grade of branch manager/assistant branch manager in Barclays is about £19k excluding incentives. No where near fantastic, but if you were a branch manager at that grade, you would have the smallest of small staff and branch (say, three cashiers and one personal banker, if you were lucky). They're mostly just stepping stone positions.

Why is it so low for them? What sort of responsibility do they have? (I am assuming you work in retail banking, possibly for RBS Group.)

chambta

BarclaysManager wrote: »

The lowest grade of branch manager/assistant branch manager in Barclays is about £19k excluding incentives. No where near fantastic, but if you were a branch manager at that grade, you would have the smallest of small staff and branch (say, three cashiers and one personal banker, if you were lucky). They're mostly just stepping stone positions.

Why is it so low for them? What sort of responsibility do they have? (I am assuming you work in retail banking, possibly for RBS Group.)

It would depend on the size of branch but the banding of the branches is extremely broad. I guess the salary scales are far from confidential information as anyone applying for such a position would find out. I may be wrong so I'll look tomorrow. It's quite feasible I could earn more than my branch manager with bonuses.

They would have responsibility for the control side of matters, cash etc, staffing, sometimes now even recruitment it seems (eg interviewing) and overall sales performance even if they themselves have little personally to do with seeing customers.