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Britain's Bankers Expect Bigger Bonuses In 2013

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http://uk.reuters.com/article/2013/10/22/uk-britain-bankerbonuses-idUKBRE99L1L220131022

The majority of Britain's financial services workers expect to receive a bonus this year and 58 percent expect the payout to be bigger than the year before, new research showed on Wednesday.

Almost a third of UK financial services workers see their 2013 bonuses growing by between 11 and 30 percent, while 35 percent predict an increase of up to 10 percent, according to a survey by financial recruitment site eFinancialCareers.

Most respondents gave personal performance as the primary reason behind the potential bonus increase, the survey showed.

Bonuses - typically paid in February and March - can make up a big percentage of pay in the industry. They became a particularly thorny issue in Britain, where many believe generous compensation led to the excessive risk taking seen in the run-up to financial crisis.

The European Union has sought to deter such behaviour with new law that limits a bonus to no more than a banker's fixed salary, or twice that level with shareholder approval. It will apply to awards from performance in 2014 and onwards.

Because the parasites are worth it.

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Don't forget that most of these people are just taking what is offered as a result of voter and politician stupidity. Most of those criticising would take the money if they were offered it.

That said, I remember in one job a long time ago I said I wanted to turn down a bonus as I thought it created a conflict of interest. Was like I'd shot a kitten by the reaction I got. No system existed for NOT giving a bonus. I took the money anyway after documenting my unhappiness.

:lol:

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Don't forget that most of these people are just taking what is offered as a result of voter and politician stupidity. Most of those criticising would take the money if they were offered it.

That said, I remember in one job a long time ago I said I wanted to turn down a bonus as I thought it created a conflict of interest. Was like I'd shot a kitten by the reaction I got. No system existed for NOT giving a bonus. I took the money anyway after documenting my unhappiness.

:lol:

I remember a colleague saying to me years ago, after our team received an undeserved bonus, 'If this were a medal I'd give it back'.

We weren't bankers though.

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