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Mergers are no fun, even with redundancy pay
Then they and perhaps their family can be put through an anxious, gut-wrenching time, which is not reflected in the press coverage. Contrary to popular belief, not everyone walks away from a banking merger with enough money to retire. Packages may be generous compared to other fields. But they can drain away quickly, especially if [...]
Graduates seek 24k in first job
The figures are part of a survey of 5,700 final-year students from 43 UK universities by the recruitment consultancy Universum. Interestingly, there is a marked difference in the salary expectations of men and women. Some 18% of men seeking an investment banking career expect to earn 30,000 to 36,000 in their first job, compared to [...]
Putnam president lays off 4% of workforce
Putnam president Larry Lasser has announced plans to lay off 4% of his 6,000-strong workforce, just weeks after it was reported that he secured a bonus of $33m (€37m) in 2000. Financial News reported last week that Lasser’s total remuneration last year was $34m, including a $1m base salary. The bonus reflected bumper growth for [...]
It’s the way that you say it
The source of this advice is a theory with the unwieldy name of Neuro-Linguistic Programming (NLP). It is the study of effective ‘thinking, language and behaviour’ and one of its central messages is that if you copy the way other people in the workplace talk, then they will like you. Bosses, clients and colleagues alike. [...]
RBS chief unapologetic over bonuses
Lord Younger, chairman of the Royal Bank of Scotland, on Wednesday unapologetically justified the bank’s controversial 2.5m (€4.04m) bonus awards to directors for the National Westminster takeover. At the annual meeting in Edinburgh, Lord Younger insisted that last year’s 21bn takeover of NatWest was an event worthy of special recognition. He said that the board [...]
City bonuses lift earnings to highest level for year
A 400m (€646.6m) boost to City of London bonuses in February drove earnings to their highest level for nearly a year, according to official data released on Wednesday. Together with figures showing unemployment continuing to fall and employment rising, the numbers led to a sharp upward revision of expected future interest rates. The Office for [...]
Non-executive directors work an average of 16 days a year
Non-executive directors of large UK financial institutions are paid an average of 35,000 a year for just over two weeks work, a survey shows. Medium-sized institutions pay 26,000, while directors at the smallest tier earn 20,000 on average, says the survey by Monks Partnership, the pay advisers. A large company is defined as having a [...]
CBI cuts growth forecast and warns of job losses
The Confederation of British Industry (CBI) has cut its forecast for economic growth this year and warned that 50,000 more jobs will be lost because of the global slowdown and foot-and-mouth disease. The CBI will say today that it expects gross domestic product to rise 2% in 2001, a downward revision from 2.5% and less [...]
Psychometric testing – alarmingly accurate
Taken out of context, it’s hard to see what these questions are getting at. But as part of a psychometric test – in this case the 430 questions of the CPI test – they apparently reveal, for example, how sociable you are, how dominant, and whether you prefer structured or unstructured settings. (See below how [...]
City Analytics snares consultant from Commerzbank
Thompson has 14 years’ experience as a bond trader and joins from Commerzbank. Before that she worked at Deutsche Bank. Her responsibilities at City Analytics will involve sourcing equity analysts and credit researchers across financial institutions and the property sectors.
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