UK
Tag: Bonuses
Stressed out bankers are underpaid and overworked
Shrinking pay packets are the primary sources of stress in the banking sector as financial professionals face longer hours and unachievable deadlines without the prospect of a big bonus at the end of it all. An average of 68% of the 3,400 banking professionals in the UK, US, Middle East, France and Germany responding to […]
Rich hedge fund manager has terrible year, still earns $33.5m
One of the UK’s richest hedge fund managers took home $33.5m in a year when profits at his firm fell by nearly 50% and investors pulled out over performance concerns. Clive Capital, the commodities-focused hedge fund run by ex-Moore Capital trader Chris Levett, posted profits of $39.6m for the year ending February 2013, compared to […]
JPMorgan: All banks should pay like BNP Paribas
Analysts at JPMorgan think BNP Paribas has one of the best pay models among investment banks. BNP Paribas is the ‘best in class’ for ‘compensation management of Tier II IBs’, JPMorgan’s analysts said in a report today. They praised the French bank for its low bonuses as a percentage of compensation (84% of pay at BNP […]
The myth of bringing in the big bucks at hedge funds
Who wouldn’t want to be David Tepper of Appalossa Management, Carl Icahn of Icahn Capital, or Steven Cohen of SAC Capital Advisors, making, respectively, $2.2 billion, $1.9 billion and $1.3 billion in 2012. These hedge fund honchos and their well-publicised wealth inspire many to pursue a job in the industry. For all the Teppers and […]
Asset manager pay hikes not enough to retain star performers
Asset managers are increasing bonuses for star performers this year, but not enough to keep them from seeking new jobs. On a pay-per-head basis, most large publicly-listed asset managers have increased pay this year, according to our analysis of 2012 annual reports. However, this doesn’t mean that bonuses have been hiked across the board – […]
These are the bankers who deserve bonuses for 2012. These are the bankers who don’t
Revenue growth isn’t the only contributor to bonuses in banking. Risk-weighted profitability is a factor. If you work at Barclays, ethical standards will also be considered. However, if your business area significantly out-performed the rest of the market and you contributed to that, it seems reasonable to assume you should be rewarded. Based upon this […]
HSBC caps bonuses at nine times salary and pays someone $11m
Buried in today’s release of its annual results, HSBC revealed that it caps bonuses for its executive directors — its top management — at nine times salaries, far above the EU’s proposed cap of 2.5 times salaries. It also pays some of its bankers very well indeed. According to the bank’s annual report, executive directors have […]
Lunchtime Links: RBS proves its aptitude at getting investment bankers to do more for less
The Royal Bank of Scotland will still be paying bonuses this year. The bank’s £600m bonus pool has not been well received by everyone – it’s “astounding” said Chris Leslie, shadow financial secretary to the British Labour Party today – particularly in light of RBS’s £5.2bn loss. However, it’s worth remembering that RBS bonus pool has already […]
The Dartmouth Partners bank-by-bank associate bonus survey for 2012
Following the boom years of instant gratification, we have had almost five years to adjust to an era of practising the virtues of patience, self-control, and willpower. It feels like we have all been part of the infamous Stanford Marshmallow experiment. Time for the payoff? 2013 has had a breathtaking start. Equity markets have raced upwards, […]
Late Links: Ominous indication that bonuses could fall 90%
The European Union wants to cap bonuses as a percentage of salaries. It may not need to bother: market forces could do the job instead. In the past 27 years, the average bonus per head on Wall Street has risen 90% according to figures released today by the New York State Comptroller (see below). According […]
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