I don't want to pay any more bankers bonuses

Soubrette

JuicyJesus wrote: »

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?

It is equally the perogative of someone to disapprove of that process, for any reason, and wish for advice on alternatives (if there are any).

Olipro

just as it's the perogative of people who find it ridiculous and counter-productive to point out how ridiculous and counter-productive it is.

Soubrette

Olipro wrote: »

just as it's the perogative of people who find it ridiculous and counter-productive to point out how ridiculous and counter-productive it is.

Not really, because this is not the debating part of the board and Martin does ask that we be nice to all moneysavers

Is it ridiculous though? To not approve of something and want to do something about it? Or is it only your opinion that it is ridiculous? For some people, maximising income is not what is the most important thing to them.

Nothing wrong with pointing out the opportunity cost of her choices but frankly, in the main, the defence of the bankers bonuses on this thread have been naive and simplistic. There are defences and the occasional poster has touched on them, but in the main this thread looks more like 'have a go at someone I don't agree with'.

choc_mouse

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! :mad:

You're own piggy bank won't pay bonuses or interest.

Mikeyorks

Soubrette wrote: »

There are also other things that could be done, such as playing the banks at their own game.

It would appear - from her very first post - the OP had attempted that. But the £100 switching bonus from Santander was rejected because she decided to switch the DDs on a DIY basis (very sensible .... but does rather screw the T&Cs for the bonus)

So I doubt the antipathy to Bankers bonuses is simply pique at the lack of a £100 bonus from Santander ..... but .....?

realaledrinker

You need to look for a bank without a 'casino bank' division.

The only one that readily springs to mind is the Co-op. But then I do work for them & get maybe a 2.5% or 5% bonus if I have exceeded my objectives for the year.

C_Mababejive

Whether we or the fools in government like it or not, bankers bonuses WILL proliferate this year as they have always done and the banks will give the finger to Joe public and the government.

And why?

Because whoever controls the money supply makes the rules. Not Government.

Was it Joe Stalin who said it isnt the electorate who decide who rules,its the person who counts the votes !

Milarky

C_Mababejive wrote: »

whoever controls the money supply makes the rules. Not Government.

This is my sentiment too. The only way to not profit the system is to not take part - or at least to do so on your own terms to mitigate the worst aspects [etc.]

How about a mention for ZOPA or other 'social lending' sites?

chazzee

realaledrinker wrote: »

You need to look for a bank without a 'casino bank' division.

The only one that readily springs to mind is the Co-op. But then I do work for them & get maybe a 2.5% or 5% bonus if I have exceeded my objectives for the year.

Not a personal attack on yourself, but keeping on theme... the Co-op has strong ties with Labour, a former Government that is more at blame for the current economic mess in Britain than the financial services sector.

Personally, bonuses form part of the total compensation package, most bankers are fully entitled to what they earn based on the profits they generate for the benefit of the shareholders, and median salaries and bonuses are actually extremely fair. If they continue to be targets, both the bankers and the banks WILL leave and take their contribution to GDP with them. It's rediculous to continue to bite the hand that feeds a siginifcant part of the British economy.

dunstonh

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! :mad:

Panorama have been making so many mistakes in recent years with their reporting or just plain mischief making without facts that you shouldnt rely on them any more. Its not just the financial areas (like the disgracefully inaccurate pensions one, its also non financial areas as well). Panorama is not the force it once was.

Most retail banks are not paying big bonuses apart from perhaps a limited number of top end execs. The average staff member is on a low wage and if they get a bonus then its typically just enough to bring them close to the national average wage if they are lucky.

Investment bankers are the ones that have been getting the big bonuses but the typical consumer has little business with investment banks directly. That is more indirect and hard to influence.