Gorman to Bonus Whiners: STFU or GTFO
Bloomberg tracked down Morgan Stanley CEO James Gorman at Davos yesterday, and the conversation inevitably turned to the reduced comp at the bank. Gorman was unapologetic and said the $125,000 cash bonus cap and reduced all-in comp merely reflected the new realities of the market and that those who believed otherwise were "naive". He also made the point that someone who defines his overall happiness with his year-end number has bigger problems than the job, and that those who are really pissed about reduced bonuses should just quit because, "life's too short". The whole interview is really good, but if all you're interested in is the talk on compensation, that starts at 6:13.
To put it in context....he was speaking about anyone who was mad at one years bonus number. He is right though, everyone know whats going in the market and honestly we should want more people to be pissed off and leave cause that leaves us more seats :)
http://dealbreaker.com/2012/01/james-gorman-to-morgan-stanley-employees…
I sense a conspiracy Eddie.
Holy shit. I think that's the first time that's happened in over three years. Looks like Bess titled hers first, should I change mine?
EDIT: OK, her's is a little different than mine. I guess I'll leave it alone. Must be the true sentiment of the interview if we both came to the same conclusion though, huh?
Of course he doesn't mind, he got 10.5mil
Abandon all hope all ye who enter!
I will still work in finance if it pays less than I can make in the tech world. I just won't work as hard.
If you were starting off today, tech might be the route to go...
http://articles.businessinsider.com/2012-01-25/tech/30662148_1_software…
Since it's impossible for finance types to reconcile how their complaints are any different than the rest of the country (and no, I'm not talking about OWS) this shit will continue to fly. Gorman is a piece of shit, let him choke on a dick. As for the rest of us: YOU'RE A FUCKING NUMBER IN THIS MACHINE, get over it.
You boss is an asshole, get yours, get out. It's that simple. This is true at every job.
Glad to know that this article was just a coincidence. I thought it was ripped off DealBreaker too. Again, I find myself agreeing with UFO - we are a free-agent nation. Corporate/firm loyalty died a long time ago.
Dude, seriously?
Anyone notice how fucking beautiful the scenery at Davos is? I wanna go sledding on that hill right behind them.
Best quote from the comments:
Nope. Just playing Uncle E.
No worries. I'm just a Bess Levin fanboi (although I obviously don't follow DB as closely as I used to or this would have never happened).
A Bess Levin and Eddie B collaboration? I'm sure there's a huge overlap of readers that would like to see it. I know I would.
Me and UFO were typing that at the same time. SEE there is a demand!
I don't know if that would work, as intriguing as the idea is. Bess is 100% up on Wall Street gossip and I'm not, and I've got the Street background but she doesn't. I think it would be a hoot, but I wouldn't blame her if she didn't see the potential synergy. Plus video is a whole different world and she might not want or need to be exposed in that way (I, conversely, enjoy exposing myself).
Hello guys, my name is J.Gorman, I'm making 10m $ and talking about pay restrain.
Tard.
Happy, if you're serious check with your compliance department and then PM me. We can definitely give it a shot.
Laudantium sunt non deserunt. Praesentium blanditiis fugiat suscipit ea non omnis voluptatibus voluptatem.
Praesentium aut reiciendis expedita deleniti nemo cumque aut excepturi. Quos nemo perspiciatis maiores exercitationem rem quam porro. Ut voluptatibus dolor vel ab corrupti provident. Explicabo consequatur qui dolores dolorem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Tempore qui libero et ab. Quaerat iure inventore vel illo omnis quo placeat incidunt. Consequatur unde provident tenetur delectus. Voluptatibus quia inventore voluptatibus voluptatem reiciendis eum. Maxime inventore nisi ipsum autem est. Voluptatem saepe est eligendi aspernatur deserunt repudiandae. Facere suscipit est iste repudiandae ut corporis.
Voluptates ut ipsam nihil corrupti aspernatur. Quod eaque sequi quis voluptas quo. Error enim id eum perferendis enim dolore voluptas. Fuga reiciendis distinctio amet enim. Possimus eum ab hic cupiditate officia tempora occaecati. Odit aut perspiciatis ut vero.