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BANKERS' BONUSES- We can do something!!
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QueensferryRoss wrote: »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.
Well if your name is anything to go by, you live somewhere near Edinburgh. Which would suggest one of the Scottish banks based there (purely down to the levels of staff they employ), most likely RBS or the former HBOS.Anything I post is my opinion, so from time to time I may be wrong. I try to provide answers based in fact, however I don't know everything, so (like all posters on MSE), take what I say with a pinch of salt.0 -
With the new deferred bonus scheme, if the company doesn't meet targets/makes losses/the individual fails; then within 3 years they can have this award reduced or completely taken away. Previous ones for big cheeses were on 0 or 12 month vests. Now, at 36 months, the companies can take back this award on certain grounds. There'll be a lot more black and white in it...or I hope so anyway!
Saying that, that's based on 60% of the bonus...for a £1m bonus (example round amount) they'll get £400k bonus then (as cash or share award dependant on company) and £600k will be invested in allocated shares based on value and not share quantity. Whether they'll be allowed to also get an 'executive free share' award would be interesting to see.
You could only assume Mr Hornby's was 0 month...and it was such a shame the price droppped
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