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timmy_30

City Bonuses

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I just wanted to follow up on the widespread media stories about a "massive bonus season" in the city, and how that's going to rescue the London housing market.

At the time various stories were being run in the medja about this I was making the point that as far as I could tell the bonuses were being received in a small number of banks, by a small number of people i.e. it is not the kind of industry wide good bonus season that would be needed to have any impact on the housing market.

Today a survey by Cityjobs was released indicating that 75% of City employees are looking to leave there job citing a poor bonus as the reason. This tallies with what I have heard on the street, for most the bonus season has been dire. As ever the VI media leads the way by reporting utter rubbish as teh 'Truth'.

The London market may or may not recover...... but it won't be on the back of city bounses this year.

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I just wanted to follow up on the widespread media stories about a "massive bonus season" in the city, and how that's going to rescue the London housing market.

At the time various stories were being run in the medja about this I was making the point that as far as I could tell the bonuses were being received in a small number of banks, by a small number of people i.e. it is not the kind of industry wide good bonus season that would be needed to have any impact on the housing market.

Today a survey by Cityjobs was released indicating that 75% of City employees are looking to leave there job citing a poor bonus as the reason. This tallies with what I have heard on the street, for most the bonus season has been dire. As ever the VI media leads the way by reporting utter rubbish as teh 'Truth'.

The London market may or may not recover...... but it won't be on the back of city bounses this year.

Dude - who in I Banking ever says they are happy with their bonus? That would like the NHS saying they have enough funding: where's the upside? These surveys feed back to senior management and are used in any negotiations.

The week after the bonuses cleared at our place, the headhunters started calling and if you were asked if you're willing to consider a new position, what would you say? There may well be a nice sign-on and often a promo. Moving every 2 - 3 years is often the norm in the industry.

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I just wanted to follow up on the widespread media stories about a "massive bonus season" in the city, and how that's going to rescue the London housing market.

At the time various stories were being run in the medja about this I was making the point that as far as I could tell the bonuses were being received in a small number of banks, by a small number of people i.e. it is not the kind of industry wide good bonus season that would be needed to have any impact on the housing market.

Today a survey by Cityjobs was released indicating that 75% of City employees are looking to leave there job citing a poor bonus as the reason. This tallies with what I have heard on the street, for most the bonus season has been dire. As ever the VI media leads the way by reporting utter rubbish as teh 'Truth'.

The London market may or may not recover...... but it won't be on the back of city bounses this year.

Have to back this up from my experience anyway. I did ok (same bonus as last year - 10k, but I've taken on many more responsibilities this year), that's about 1/4 of last year's salary. My colleagues were 95% disgruntled - "worst bonus is 12 years in the City", etc. Some people got nothing, others 4 or 5k (usually get 40k ish), though they do ok salary wise.

I was chuffed to get anything, having only been in the City for 2 years and never having got a bonus previously while working in Glasgow for 5 years.

I'd wonder at 75% of people moving jobs citing poor bonuses - as far as I can see they're just going to go into positions vacated by other people with poor bonuses. What changes?

But yeah, the press need to make stories, so they exaggerate anything that will make people get riled/angry etc.

"GOOD:: House prices rise - great stuff! Owners get 'rich' for doing absolutely nothing!!"

versus

"BAD::City bonuses - fat cats get rich for, erm, working long hours, high pressure jobs, unforgiving environment".

I tend not to read the press, it's generally written for the lowest common denominator (lazy = good, hardwork = bad).

nb. my landlords are selling the house and had hoped "City bonuses would help us sell". £535k for a 5-bed home in Finsbury Park? FFS, get a grip. It's not selling because the schools are crap and anyone with that kind of cash and a family is going to consider education important. Hence 6 months on market and counting.

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FTSE near 6000. DOW ploughing ahead. Guess where a lot of the bonus money went? Not many smart City investors are going for 2% returns in BTLs and the risk of the crash deepening as IR rise worldwide.

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FTSE near 6000. DOW ploughing ahead. Guess where a lot of the bonus money went? Not many smart City investors are going for 2% returns in BTLs and the risk of the crash deepening as IR rise worldwide.

The Dow is range trading has been since Jan, the FTSE is being pushed up by bid speculation, that's not a sign of private investing it's a sign of cheap money being used to buy up profitable UK companies by European companies.

I would guess any smart investors out there will be sticking to cash, possibly Yen accounts offshore, neither stocks, bonds, nor equities are a good place to be right now IMO.

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The Dow is range trading has been since Jan, the FTSE is being pushed up by bid speculation, that's not a sign of private investing it's a sign of cheap money being used to buy up profitable UK companies by European companies.

I would guess any smart investors out there will be sticking to cash, possibly Yen accounts offshore, neither stocks, bonds, nor equities are a good place to be right now IMO.

You are right--but the markets have done well this far into the first Q. Most smart money is now going into cash:

http://investing.reuters.co.uk/funds/funds...ERRILL-POLL.xml

Rates outlook making global investors wary

Tue Mar 14, 2006 9:47 AM GMT

LONDON (Reuters) -
Investors raised cash levels in their portfolios between February and March
and signalled a further fall in investment risk appetite in the face of rising global interest rates, a Merrill Lynch poll showed on Tuesday.

I would be surprised if any but a tiny majority of the City investors bought into housing this late in the cycle--especially in the light of higher IR worldwide. Worst possible investment IMHO.

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My heart is bleeding for the lack of City bonuses. All of those 'over-paid' public sector workers that so many on here like to run down do not get bonuses.

Guaranteed bonuses are an oxymoron anyway. If you manage to do your job competently is that justification for a bonus? I am not against the idea of bonuses per se, but some of my friends working in the City seem to be under the impression that a bonues that they can then try to avoid paying tax on is obligatory.

It's interesting how the same people who engage in taxt avoidance are so often the same ones who talk about Britain going to the dogs. Cause and effect, cause and effect....

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And don't forget Stock Options maturing this (and last) year.

Offer price based on stock market doldrum, strike price based on todays post bull run price.

Imagine having 6000 shares with a £30 premium on each.

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And don't forget Stock Options maturing this (and last) year.

Offer price based on stock market doldrum, strike price based on todays post bull run price.

Imagine having 6000 shares with a £30 premium on each.

I can imagine it Steve, but I can' t quite see what Banking shares your referring to that are up £30, approx $60 over their option strike price?

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Well, I find out today....

Oh and by the way whatever it is I'm going to be giving 40% of it to Gordon and his mates Prescott and co. so they can spend it "where its really needed" i.e. to buy votes in the Labor heartlands. ;)

I don't know anyone who doesn't pay tax through the nose, Tax avoidance is pretty much dead AFIK.

Another day another dollar.

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I can imagine it Steve, but I can' t quite see what Banking shares your referring to that are up £30, approx $60 over their option strike price?

Not banking - plenty of other sectors pay bonuses as well. And not only confined to London

Media don't seem to get worked up unless they can film braying buffoons in wine bars.

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My heart is bleeding for the lack of City bonuses. All of those 'over-paid' public sector workers that so many on here like to run down do not get bonuses.

Guaranteed bonuses are an oxymoron anyway. If you manage to do your job competently is that justification for a bonus? I am not against the idea of bonuses per se, but some of my friends working in the City seem to be under the impression that a bonues that they can then try to avoid paying tax on is obligatory.

It's interesting how the same people who engage in taxt avoidance are so often the same ones who talk about Britain going to the dogs. Cause and effect, cause and effect....

Maybe city folk would trade in their bonuses for guaranteed final salary pensions and early retirement that the public sector has?

As for doing your job competently = getting a bonus, I agree it's a bit bizarre. Justification seems to be 7am-7pm jobs at full pelt, on call whenever the company wants you, free time spent watching the markets and the normally short career before you're burnt out. Sounds fair to me. Or turn up at your public sector job, do your hours (or get good hols if you're a teacher), get your full pension with your early retirement - and know that if you're crap and get sacked you can get the union to get you your job back.

If I'm crap - I'm losing a private company money. If the public sector is crap, they're affecting the lives of the tax paying public.

It's swings and roundabouts.

Tax avoidance is intolerable. However, 40% of bonus going to Gordon for no effort on the Govts. part is a bit hard to swallow. Still 60% is much better than nothing!

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Not banking - plenty of other sectors pay bonuses as well. And not only confined to London

Media don't seem to get worked up unless they can film braying buffoons in wine bars.

Sooo this being a thread about the media reports of the London housing market being boosted by City banking bonuses...... the relevance of your post was?

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Have to back this up from my experience anyway. I did ok (same bonus as last year - 10k, but I've taken on many more responsibilities this year), that's about 1/4 of last year's salary. My colleagues were 95% disgruntled - "worst bonus is 12 years in the City", etc. Some people got nothing, others 4 or 5k (usually get 40k ish), though they do ok salary wise.

I was chuffed to get anything, having only been in the City for 2 years and never having got a bonus previously while working in Glasgow for 5 years.

I'd wonder at 75% of people moving jobs citing poor bonuses - as far as I can see they're just going to go into positions vacated by other people with poor bonuses. What changes?

But yeah, the press need to make stories, so they exaggerate anything that will make people get riled/angry etc.

"GOOD:: House prices rise - great stuff! Owners get 'rich' for doing absolutely nothing!!"

versus

"BAD::City bonuses - fat cats get rich for, erm, working long hours, high pressure jobs, unforgiving environment".

I tend not to read the press, it's generally written for the lowest common denominator (lazy = good, hardwork = bad).

nb. my landlords are selling the house and had hoped "City bonuses would help us sell". £535k for a 5-bed home in Finsbury Park? FFS, get a grip. It's not selling because the schools are crap and anyone with that kind of cash and a family is going to consider education important. Hence 6 months on market and counting.

Finsbury Park is a hole IMHO. I lived there for 5 years for my sins.

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Is there a moral obligation to avoid taxes if the NuLab Scum are going to use it to perpetuate their grubby parasitical fascist regime?

All in my personal opinion of course. Or am I being a little hard?

The relevance to house prices would be, that if our benevolant dictators keep buying elections by inflating the money supply, we may as well all join the civil service, turn bull and buy anything we can as they attempt to inflate away peoples debts to cling on to power.

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Sooo this being a thread about the media reports of the London housing market being boosted by City banking bonuses...... the relevance of your post was?

Sorry I hadn't realised that to widen the scope with another possible reason as to why top end properties are selling nationwide was against the rules. Inclusivity is always a better approach IMO.

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Guest Winners and Losers

Not banking - plenty of other sectors pay bonuses as well. And not only confined to London

Media don't seem to get worked up unless they can film braying buffoons in wine bars.

I thought the wine bar was left behind, in 1989? ;)

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I thought the wine bar was left behind, in 1989? ;)

Dunno - probably. Never worked in the City. It's just the media always seem to find some footage of spraying champagne to illustrate the City bonus report.

I seem to recall last year a plethora of articles about the number and cost of champagne bottles that each successive city loonie was buying and then spraying around various clubs.

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Guest Winners and Losers

Dunno - probably. Never worked in the City. It's just the media always seem to find some footage of spraying champagne to illustrate the City bonus report.

I seem to recall last year a plethora of articles about the number and cost of champagne bottles that each successive city loonie was buying and then spraying around various clubs.

Remind anyone of the late 80's? Twits. ;)

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Dunno - probably. Never worked in the City. It's just the media always seem to find some footage of spraying champagne to illustrate the City bonus report.

I seem to recall last year a plethora of articles about the number and cost of champagne bottles that each successive city loonie was buying and then spraying around various clubs.

I got a flyer this morning from a local EA. Something along the lines of:

"The City has run dry of champagne, and now its time to spend those huge bonuses. We have also run dry of properties to sell due to the phenomenal early spring bounce we are experiencing. If you are interested in selling your home call us on......"

:rolleyes:

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I got a flyer this morning from a local EA. Something along the lines of:

"The City has run dry of champagne, and now its time to spend those huge bonuses. We have also run dry of properties to sell due to the phenomenal early spring bounce we are experiencing. If you are interested in selling your home call us on......"

:rolleyes:

It's just so boring and predictable isn't it?

Though I suppose if they were really creative and cutting edge they wouldn't be shop assistants.

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Well, I find out today....

Oh and by the way whatever it is I'm going to be giving 40% of it to Gordon and his mates Prescott and co. so they can spend it "where its really needed" i.e. to buy votes in the Labor heartlands. ;)

I don't know anyone who doesn't pay tax through the nose, Tax avoidance is pretty much dead AFIK.

Another day another dollar.

Forgivable loans to "directors" of CI companies are alive and well in PE and hedge funds.

BTW my boss splashed out when he got his bone... on another property. He's already long in stock from the company's SOP, is fully exposed to the stock market because he's in ECM and that's who his clients are, and has a crap, private sector pension that somehow needs augmenting.

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I shall be spending my bonus (from the booming oil industry) on property.

After tax I'll have £5750 which I shall use to reduce my mortgage. Slightly.

A small glass of red will substitute for spraying champers around the kitchen.

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I shall be spending my bonus (from the booming oil industry) on property.

After tax I'll have £5750 which I shall use to reduce my mortgage. Slightly.

A small glass of red will substitute for spraying champers around the kitchen.

Champers would be easier to clean though.

I wouldn't recommend anyone spraying cheap red wine.

It may be a short term economy but you've got to consider all angles.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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