I don't want to pay any more bankers bonuses

Marie_BL

Who can I bank with that doesn't pay bonuses?
Yes, I know I shouldn't have watched last night's Panorama programme! :mad:

opinions4u

Marie_BL wrote: »

Who can I bank with that doesn't pay bonuses?
Yes, I know I shouldn't have watched last night's Panorama programme!

I'm sure nobody at the BBC has ever received any bonus or generous expense account.

Now, what are you objecting to? Somebody on the counter of the local branch earning a 5% one-off payment in March that they use to clear their overdraft with (because they earn somewhere marginally above minimum wage)?

Or an executive near the top of the organisation who has turned a loss making bank in to a profit, possibly to the benefit of taxpayers?

Or an idiot at the top who has destroyed a bank?

Or an investment banker who may be burned out by the time they are 30?

Or all of the above?

Incentivising staff is not a bad thing in itself. As long as it driving desirable commercial behaviours as opposed to destructive ones.

Soubrette

Do you have a local credit union? You could deposit with them.

[Deleted User]

I actually see a great similarity in bankers and footballers. Both are unique and difficult careers to get into, which can take a lot of work and require a lot of tenacity and skill.

The effect of the global market has pushed salaries for both professions skyward. For your organisation to succeed, you need to hire the best. The best know that they can play firms off against one another to get the highest salaries and bonuses. Don't pay them what they want and they'll move somewhere else.

It's a very expensive supply and demand

Marie_BL

No, I'm not. Perhaps I'll take it up in retirement. Give me something to look forward to.

Soubrette

I have to say I thought for a minute I had stumbled into discussion time or the arms

It doesn't matter what the OPs opinion of bankers are, I can assure the posters defending them, that bankers neither need nor appreciate your defences. The OP asked a simple question which it appears none of you could answer.

Who cares if she doesn't like Lloyds because she's hates horses, Orange because the colour makes her barf or mainstream banks because she feels bankers are overpaid and take too much in bonus.

She wasn't asking for a critique of her pov, just if there were any alternatives.

jonesMUFCforever

Big bonuses = big tax bills for recipients = big profits for company = more corporation taxes for UK PLC

Soubrette

jonesMUFCforever wrote: »

Big bonuses = big tax bills for recipients = big profits for company = more corporation taxes for UK PLC

I don't think the situation is quite as wonderful as you and other posters have portrayed (god bless you merry bankers, without you we wouldn't be the country we are today :cool:)

Perhaps we should take this to discussion and leave people to actually try and answer the OPs question?

At the moment it looks like there are actually very few options to the big banks but perhaps someone bright out there could come up with a few feasible ones.

opinions4u

The OP asked a simple question which it appears none of you could answer.

There didn't seem to be much point adding to the answer you'd already given.

To be fair, when I asked for clarity over which aspect of the bonus culture was being objected to, I didn't get an answer.

Soubrette

opinions4u wrote: »

There didn't seem to be much point adding to the answer you'd already given.

To be fair, when I asked for clarity over which aspect of the bonus culture was being objected to, I didn't get an answer.

Thank you for the vote of confidence I'm disappointed that the only option that our collective minds could come up with is a credit union though.

For example, could there be some smaller building socs who don't give their board of directors big bonuses, it's not a question I've looked into so I couldn't in all honesty give it as any kind of authoritive answer but perhaps someone knows? Or some kind of mutual saving scheme that I've never heard of.

And in defence of the OP she mentions Panorama so presumably a particular aspect of the bonus culture was mentioned there?

There are also other things that could be done, such as playing the banks at their own game. Don't be a loyal customer, take them for what they offer and then move along whether it be bonuses or savings rates for example.

Downside of this is it's a pain with your direct debits

JuicyJesus

Why should an independent, successful bank or building society (e.g. Barclays, HSBC, Co-op, Nationwide) not pay bonuses to its staff? Is that not their prerogative, given that it is after all their earned money?