I was talking to my friend who said his bank recently started paying bonuses quarterly. (the 1yr total stayed about the same) They are doing this for all levels. His bank is a MM shop, but they have been doing very well.
I wanted to hear other peoples opinions on this. Have you heard of this at other places? Do you think it will catch on at other banks? In the world of finance, where people are constantly switching jobs/banks this seems like it might be convenient for the employees. I mean my econ professor always said a dollar today is worth more than a dollar a year from now...
And I think you've hit on the reason why it won't catch on: it's good for employees.
Banks need a way to incentivize people to stay a whole year or multiple years... otherwise everyone would just hop at the first sign of a better offer elsewhere.
Would be great for bankers but terrible for the senior management at firms.
I've heard of that comp structure at some MM banks. I think it's a way for smaller firms to attract talent and differentiate themselves.
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