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Poor Hester...
Graham_Devon
Posts: 58,560 Forumite
So, Stephen Hester, head of RBS is apparently doing one of the most difficult and challenging jobs in the world.
Therefore, he desereves his bonus of £2.4m on top of his salary of £1.2m, on top of his pension contributions of £400k on top of his possible £4m long term bonus.
So, thoughts.... is he doing the most difficult and most challenging job in the entire world?
Or is half the banking sector overpaid, making his job look underpaid?
Theres not many tears being shed for him, obviously.... even though his salary is just "modest".
It's also worth noting that Hester stated he'd give up his bonus at the time of the computer meltdown. However, he appears to have forgotten this. Funny really, so utterly intelligent, yet completely forgets what he himself said.
Stated in June...
Therefore, he desereves his bonus of £2.4m on top of his salary of £1.2m, on top of his pension contributions of £400k on top of his possible £4m long term bonus.
So, thoughts.... is he doing the most difficult and most challenging job in the entire world?
Or is half the banking sector overpaid, making his job look underpaid?
Theres not many tears being shed for him, obviously.... even though his salary is just "modest".
It's also worth noting that Hester stated he'd give up his bonus at the time of the computer meltdown. However, he appears to have forgotten this. Funny really, so utterly intelligent, yet completely forgets what he himself said.
Stated in June...
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9863514/RBS-boss-Stephen-Hester-should-take-bonus.html"I think it is inappropriate for me to have a bonus this year. We have let our customers down. That may have arisen from old systems and things that were from before my time, but I think we could reasonably have been expected to have improved things since then and clearly we didn't improve them enough," Hester said.
"So it wouldn't cross my mind to have a bonus this year," he added.
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Comments
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Bearing in mind how much of a mess that was left by messrs Brown and co, I say he is entitled to every penny.0
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In the top wage sector all they seem to do is compare like with like...if one gets it the rest do.
What they don't tell you today is how dramatic executive pay has risen over the decades....its not just double and treble.
Quote taken from an article..
The union leader said that in the 1970s, US chief executives were paid 30 or 40 times the wage of the average worker, but by 2008 they took home 319 times more than the average American. "The pay of the average worker has flat-lined but the pay of executives has taken off like a rocket."0 -
Is his job really that difficult?.
Yes he is grossly overpaid, IMO, he can't loose. But then again 400 premier footballers are too.
If he said he wouldn't take the bonus and then does yes it he is hypocritical."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »Is his job really that difficult?.
Yes he is grossly overpaid, IMO, he can't loose. But then again 400 premier footballers are too.
If he said he wouldn't take the bonus and then does yes it he is hypocritical.
Just another lying banker in my book....0 -
grizzly1911 wrote: »Is his job really that difficult?.
Yes he is grossly overpaid, IMO, he can't loose. But then again 400 premier footballers are too.
If he said he wouldn't take the bonus and then does yes it he is hypocritical.
You can choose not to contribute to premiership footballers wages by not having Sky, not going to their matches and not buying replica kit though.
How do I opt out of lining this parasite's pockets?
Oh I cant because RBS is state owned and even when it isnt his salary and the salary of everyone like him is factored into every financial transaction and everything I buy supported by one.0 -
Graham you've got to get off your high horse.
What makes you think that Hester should be so pious that he feels he ought to do the world a favour and work under the benchmark?0 -
Graham_Devon wrote: »Just another lying banker in my book....
Who agrees to pay the salary/bonmuses as they are largely state owned (yes Thrug I know we need to keep the talent etc.)?
http://www.thebureauinvestigates.com...-tory-funding/
Are these the same bonuses that will need to used to pay fines?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
No.Graham_Devon wrote: »So, Stephen Hester, head of RBS is apparently doing one of the most difficult and challenging jobs in the world.
Therefore, he desereves his bonus of £2.4m on top of his salary of £1.2m, on top of his pension contributions of £400k on top of his possible £4m long term bonus.
So, thoughts.... is he doing the most difficult and most challenging job in the entire world?
I bet I could do no worse and I would do it for a fraction of the money he is on.0 -
ruggedtoast wrote: »You can choose not to contribute to premiership footballers wages by not having Sky, not going to their matches and not buying replica kit though.
How do I opt out of lining this parasite's pockets?
Oh I cant because RBS is state owned and even when it isnt his salary and the salary of everyone like him is factored into every financial transaction and everything I buy supported by one.
You are quite right toastie that the whole Premiership bandwagon is "voluntary". Many people quite happily get fleeced on a monthly basis to pay for it though, out of choice.
I am not defending Hester's package or any other bankster although that chap at Barclays does at least seem to be saying and doing some of the right things."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
In the top wage sector all they seem to do is compare like with like...if one gets it the rest do.
What they don't tell you today is how dramatic executive pay has risen over the decades....its not just double and treble.
Quote taken from an article..
The union leader said that in the 1970s, US chief executives were paid 30 or 40 times the wage of the average worker, but by 2008 they took home 319 times more than the average American. "The pay of the average worker has flat-lined but the pay of executives has taken off like a rocket."
Is that all to do with CEO pay rising or is it due to the cost of automation and IT which in turn forces down the need for skilled labour too with pay falling to the lowest levels. for less skilled/unskilled workers?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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