Impact on bonus due to recent bank restructuring
Guys, news of bank cutting staff is all over. For those who managed to have avoided the storms, especially prior to bonus communication, could you share how bonus would be impacted? Suppose you survive because you are a top-tier performer, would you still get paid an ok bonus (from a total comp perspective)?
There's no rule. The below all happened at once some time ago in an organization I know well (London, IBD) Depending on the team they gave either: - in line with the market to a small selected group, so that they keep the staff in exceptionally profitable teams, - slightly less but still OK to most of the staff, justifying that the situation is difficult, or - nothing in few instances where the MD had no power, saying "yea, at least you have the job"
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