Citi, BoA raising base?
http://blogs.wsj.com/marketbeat/2009/05/27/citi-b…
How do you think this will affect comp at boutiques and other banks? New base pay space race?
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I hope not. The flip side is ovbviously smaller bonuses. I rather not, as the piece quotes: get upped from 250k to 400k in salary if it means my B drops from 1mln to 250K.
This is just another salvo in the effort to nationalize banking.
As a good friend would say: Good grief!
Another "effort to nationalize banking" - well, I'd actually rather have a higher part of my salary be fixed than variable in a down market for obvious reasons. I mean, as analysts, the variation is much less significant - instead of 50% of your comp being from bonuses, an MD makes up to 80% of comp from bonuses.
Keep in mind the clawback provisions, risk-lowering pay techniques, etc. that have been discussed by banking officials would NOT effect the vast majority of bankers, researchers, etc.
Not for analysts- this is for the high earners. Don't expect to see a change at the analyst level - yet.
Facilis minus numquam nemo sit in. Quam deleniti iure id iusto. Delectus et in aut omnis. Odio asperiores sed minus reprehenderit non et sed sint. Et est necessitatibus qui corporis et voluptas molestiae. Dolor reprehenderit nihil facere ducimus commodi quae minima. Sit a iste ex commodi id et laborum.
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