Friday, Dec 14, 2007
Perhaps they'll be able to afford those properties after all
The Independant: Big bonuses in City despite credit crisis
Top bankers are set to receive even larger multimillion pound bonuses than in previous years, despite the downturn in the global economy, say City figures.
Big players in investment banks will learn they have received payments of between £1m and £5m in the next few days as bonus fever grips the City. Exceptional individuals will receive as much as £10m.
Yesterday, bankers at Lehman Brothers began discovering the size of their bonuses, a day after Goldman Sachs revealed a record global bonus pool of £9bn. Staff at the US investment bank Morgan Stanley will learn their payouts today, while employees of Citigroup, Merrill Lynch and Barclays Capital will have to wait until after Christmas.
Posted by disillusioned @ 10:11 AM (360 views) Add Comment
8 Comments
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1. Mark said...
its a disgrace, i wonder how much tax they really pay??
Funny how when money is injected into the system the bonuses suddenly get paid!!! I thought banks were strapped for cash!!
Bloody labour should be ousted for allowing this to go on... Because I bet most of the bonuses are money from our so called BOE baliout autions.....
2. Icarus said...
And Nero fiddled.......
3. confused76 said...
TOTALLY WRONG!!!!!
this report is badly off target. it is true that the top-200 bonuses this year will be higher, but the total amount in bonuses will be savagely slashed.
of course asking a recruitment agency their opinion on bonuses is like asking Savills about house prices and turkeys about the dangers of the festive season
4. Icarus said...
confused76 - Why 'totally wrong'? More money for those at the top, less for the rest - that's what both you and the atricle are saying. Unless I'm the one who's confused?
5. Moneymachine said...
Judging by Lehman Brothers bonus announced yesterday the above report is way off target. Many did not get anything at all.
6. disillusioned said...
I agree that they won't be seeing the record amounts from last year, but theyare still seeing bonuses rather than nothing at all.
7. confused76 said...
nooooooooooooooooooooooo... it does not work that way.
for city workers bonuses are part of expected pay, and their budget fully includes expectation of earnings as previous years
with bonuses 20% this year (and far larger differences between top and average performers) half of the city boys will take home less than half of previous year pay
trust me... I know
8. wiltshire said...
I wonder what these city boys will do with their bonuses though? Property is an option of course, but bearing in mind that a) property prices appear to be on the turn b) next years bonus could be negliable assuming that c) they're still got a job I would be tempted to have money in something a little safer and more liquid.