No more big bonuses for senior bankers in Europe
I found this article interesting:
http://go.bloomberg.com/market-now/2013/04/11/even-bankers-dont-believe…
"Now British bankers are sobbing that new European rules limiting bonuses to two times salary will spell the end of London as a financial center. That’s not the case. As you can see from the latest Barclays numbers, many managing directors are already close to that point. Remember: a bonus that is two times salary means that salary is just one-third of your compensation.
Does all this mean more top bankers and traders will head off to start their own boutique shops and hedge funds? Yes. The big-bonus era gave them the benefits of both public ownership and private partnership. They could sell the cake and eat it, too, going public and continuing to pay themselves as much as they pleased. Now more of those bankers and traders will have to choose between the safety of big shareholder-owned companies and the prospect of ginormous pay."
A 2x salary bonus still sounds like a lot, although it's much less for certain positions. Would the same thing happen in the US for bonuses anytime soon? I'm a college freshman so this doesn't really involve me, but I'm just curious.
So this guy is seriously saying a bonus that is two time salary means that salary is just one-third of compensation? Get the fuck outta here.
Checks out mathematically. If salary is $5, and bonus is 2x that = $10, then total comp = $15. Salary is $5/15 = 1/3 of compensation.
Yeah, that's what he's saying. And so?
If I had poo it would be thrown at you. ugh...you have the real estate tag too. C'mon, we struggle enough for legitimacy as it is :p
Looks like somebody failed math class.
LOL raise the base...
I'm pretty sure SureThing is being facetious. Saying that salary would thus be 1/3 of total comp is a bit John Madden-esque...
Lawd let's hope so
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