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Everything we know so far about bonuses and deferrals, bank-by-bank
As a follow-up to our earlier article on the state of bonuses, cash caps and deferrals on a bank-by-bank basis this year, here’s what we know now. Feel free to email us at Editor@eFinancialCareers.com or to leave a comment if you know additional details that we don’t. Bank of America Cash bonus cap? Yes, but it [...]
Disaster as the UBS investment banking bonus pool is reduced by at least 60%, making zeroes inevitable
After all the waiting, the worst seems to have come to pass. Still ensconced in Wandsworth prison, Kweku Adoboli appears to have precipitated a 60% (minimum) reduction in the UBS investment banking bonus pool. The figures are given in a confusing graph included in today’s investor presentation. Shown below, this shows the portion of the [...]
GUEST COMMENT: How you can work at Goldman Sachs for 8 years without living a Playboy lifestyle and still end up broke
There is a persistent City fairy tale which goes something like this: work hard enough, for long enough, and you’ll retire rich and live happily ever after. In this heart-warming fable, “hard enough” equals a minimum 90-hour week. And, “long enough” means somewhere between five and ten years… To have reached thirty five and not [...]
£4m at Goldman Sachs, £3.1m at Citigroup, £2.4m at JPMorgan, £2.4m at BarCap, £1.1m at RBS and new constraints on cash bonuses at Morgan Stanley
It is a morning of bonus news; some retrospective and some contemporary. In retrospective bonus news, various banks have been obliged to make regulatory filings clarifying how much they paid their code staff. These filings clarify to the extent to which some banks not only pay more than others, but pay a lot more cash [...]
This time next week, Goldman bankers should know their numbers: the bonus calendar for 2012
This time next week, bankers at Goldman Sachs should know their bonuses for 2011. Morgan Stanley will follow shortly after. Everywhere else will come after that. Here’s the bonus announcement and payment schedule for the next few months – as we understand it (feel free to suggest amendments if you disagree). Goldman Sachs Goldman Sachs [...]
This is how much you should have been earning as an MD in credit and high yield trading in EMEA, Asia, the US and Brazil in 2011
International financial services search firm, Options Group, has disclosed some data points from its new and comprehensive compensation report for 2011. Here’s what they say you should be anticipating, in total comp as an MD in credit and high yield trading this year. Total compensation forecast, MD, credit and high yield trading US: $1.75m-$2.5m EMEA: [...]
Bank of America’s deferred bonuses from 2010 are now worth nearly nothing
In 2010, Thomas Montag, head of global banking and markets at Bank of America, was riding high. He exercised some of his options in his employer, and realised a pleasant gain of $11.5m. This year, Montag is riding a pygmy goat. BofA’s proxy statement shows that Montag’s target earnings from 2010 stock awards were supposed to reach [...]
This is how much you should be earning as an MD in equity research in EMEA, Asia, the US and Brazil in 2011
International financial services search firm, Options Group, has disclosed some data points from its new and very comprehensive compensation report for 2011. Here’s what they say you should be anticipating, in total comp as an MD in equity research this year. Total compensation forecast, MD, equity research, 2011 US: $750k-$1.0m EMEA: $785-$1.2m Asia-Pac: $1.0-$1.2m LatAm: [...]
This is how much you should be earning as an MD in M&A in EMEA, Asia, the US and Brazil in 2011
International financial services search firm, Options Group, has disclosed a few data points from its new and comprehensive compensation report for 2011. We’ll be releasing them slowly over the next week. Here’s what they say you should be anticipating, in total comp as an MD in IBD this year. Total compensation forecast, MD, IBD: M&A [...]
Are these 60% salary increases for Qatari bankers really a good thing?
When it comes to achieving nationalisation targets, banks in both Qatar and Dubai have always struggled to prise local candidates away from relatively cushy and well-paying public sector jobs. Now, in response to spiralling salaries in government jobs, banks in Qatar have been handing 60% pay rises to local staff to ensure they’re able to [...]
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