financial statements and bonus

carfield — Sat, 16 Aug 2008 06:30:17 -0400

I'm wondering something. I know it's not as simple as this, but here's the principle.

In the quarterly financial statements, do banks report net profit AFTER bonus pool has been allocated? Or these Q1, Q2 profits are reported PRIOR to allocating funds for bonus pool? I know in the End of Year financial statements, the banks report bonus pool as part of compensation expenses, but what happens in Q1, Q2, Q3 before bonus are decided?

For example, say for arguments sake, the bank's true net profit (after operating expenses including salary) was $1.5bio in Q1, and say equivalent of 500mio will be for bonus pool. So, in the Q1 statements, does bank say 'net profit' will be $1.0bio (allowing for 500mio sent to bonus pool)? or do they report $1.5bio as net profit, because no body knows how much loss/profit will be made in later quarters, thus not really putting money aside for bonus pool?

I know it's never this simple, but just so that I can guesstimate what I might have.

What's better? Starting a career in S&T in Bull Market or Bear Market

carfield — Mon, 28 May 2007 18:00:10 -0400

The question say it all. Just to fill in my curioisity. Which of the opposite extremes provide a better long-term career path?

1) Join as Analyist at start of bear market. Volume is low, profit is scarse. But because of its relative "quietness" you learn more? Do you make money only from going Short & use of derivatives? Obviously profit goes down so bonus is sh*t.

2) Join at start of bull market. Volume is high, you make easy money, but as someone said earlier it's hard not to make money, so you learn relatively less. But money is good. Easier for promotion?

Broadband Internet Connection in London

carfield — Tue, 27 Mar 2007 02:28:15 -0400

It appears most are ADSL connection only.

Does any reputable company provide wireless broadband service? When I say wireless, I'm not talking about BT's "total broadband" where you need an ADSL connection. I mean, real mobile broadband that doesn't require telephone line.

perhaps someone in london can shed some light.

Barclays and ABN Amro in Â£80bn talks

carfield — Sun, 18 Mar 2007 17:00:44 -0400

http://www.telegraph.co.uk/money/main.jhtml;jsessionid=HXXGFTGEIZOQ5QFIQ...

If you guys cared.

Funny how the last sentense goes:
ABN has hired Lehman Brothers, Rothschild, UBS and Morgan Stanley as advisers.

credit/charge cards in London

carfield — Fri, 02 Mar 2007 00:31:10 -0500

So i'm moving to London from Asia.
I checked out few banks website but offering of credit cards in terms of their benefit, varieties are quite poor.
The bank I work for won't have retail branch in UK.

What sort of credit card should I get? I use AMEX gold now, but can't justify 300p for amex platinum...

being on the "reserve candidate" after superday

carfield — Wed, 21 Feb 2007 16:52:16 -0500

It's Europe bank, not American BB.
So I went to superday in early Feb, and they said they will make decisions "very quick within a week. After 2.5 weeks I still have not heard back.
I emailed other candidates, and apparently some got an offer, some already got rejection emails. For me, nil. So I'm guessing I'm the reserve option for the bank.

Question: Should I tell bank that I have offer from elsewhere, so I need to make decision, but if they DO offer me, I'll take it? Truth is, I don't have other offer, but would this mean I get the offer from bank which I otherwise wouldn't? Or would they just think "yeah go away we don't need you".

Do banks pay for my air-fare from Australia to Europe?

carfield — Wed, 17 Jan 2007 18:24:47 -0500

Dear all, I'm new here, first time posting.

Just a quick question. I am fortunate and got invited to final assessment center at Soc Gen office in France for their analyst program (they call it global international program?). I'm based on Australia and it's a far trip ahead for me.
Question I have is, should the bank (or Soc Gen in specific) reimburse all of my travel expense? It only says reimbusement is for Europe candidate, and not for overseas.