Bad things have been happening to the bonus pool at Barclays' investment bank. If reports are correct, it will be lower than ever for 2015 - at £900m ($1.3bn), down from £2.7bn in 2010, a decline of 67% in five years.
Nor is there much cheer from a bonus-per-head-perspective. If Barclays has indeed cut its investment banking headcount by 1,200 people, to 19,300, the implication is that bonuses per head in the investment bank will be £48k this year - their lowest ever.
It's not all bad though. Barclays' investment bankers received substantial salary rises back in 2009. They also receive giant 'role-related allowances' - Tom King (ex-CEO of the investment bank) got £642k last year.
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