• 18 Dec 2013 at 5:22 PM

Bonus Watch ’13: Citi

Liked last year’s bonus? Thought it was pretty good but maybe just a slight bit too generous? You’ll love what’s coming your way this year.

Citigroup’s bonuses for investment bankers and traders probably will be little changed or drop from last year as the third-largest U.S. lender seeks to reduce costs, according to a person briefed on the policies. Investment bankers could receive payouts that are close to flat compared with 2012, while traders and salespeople could get cuts of 2 percent, said the person, who asked for anonymity to discuss confidential pay plans. While revenue in the securities and banking unit rose 6 percent through the first nine months, the bonuses probably won’t rise because people will earn 5 percent to 10 percent less than they would have a year ago for the same amount of production, said another person with direct knowledge of the New York-based bank’s policies.

[Bloomberg]

9 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (9)

  1. Posted by Math major | December 18, 2013 at 6:05 PM

    How do you cut a donut by 2%?

  2. Posted by Guest | December 18, 2013 at 10:56 PM

    Clawback

  3. Posted by Guest | December 19, 2013 at 3:15 AM

    Shitibank

  4. Posted by Bored Guest | December 19, 2013 at 9:27 AM

    Get your f*ckin hands off my bearclaw!

  5. Posted by Shaz's beard | December 19, 2013 at 2:37 PM

    "Looks like I wont be paying off the '03 Civic this year"

    -UBS Fast/Furious Arb Desk

  6. Posted by Guest | December 20, 2013 at 1:24 PM

    Hahaha…never heard that one.

    - Guy who's heard that one 1,000 times

  7. Posted by Guest | December 21, 2013 at 1:57 AM

    Working for Citibank is its own reward

    - Captain Sarcasm

  8. Posted by commodity tips | December 30, 2013 at 5:05 AM

    This is really very Awesome post.Also very nice info shared by you.

  9. Posted by Gillian | February 21, 2014 at 7:45 PM

    "Citigroup’s bonuses for investment bankers and traders probably will be little changed or drop from last year as the third-largest U.S. lender seeks to reduce costs, according to a person briefed on the policies."

    Citi is an organization that actually does okay with ethics most of the time. They do a heck of a lot better than most anyway.