A new element has been added to the speculation over the size of this year’s bonuses at Barclays’ investment bank: timing.
Bonuses at Barclays may be diminutive this year. They may also be delayed.
London-based finance recruiters say staff at associate level and above in Barclays investment banking division (IBD) are being told bonuses will be paid in late March instead of mid-February as has been the case at the bank in the past.
“It’s just this year,” says one banking recruiter, speaking on condition of anonymity. “It means people there can’t move into new jobs until they’ve been paid, around a month later than everyone else.”
Barclays didn’t respond to a request for comment on its bonus schedule. As we noted yesterday, the investment bank seems to be in a state of flux with rumours that new CEO Jes Staley is looking for a head of the investment bank to replace current CEO Tom King.