Advisers at the Barclays Wealth & Investment Management division in the Americas will no longer get paid solely on how much money they bring in. Going forward, their compensation could be docked for misconduct…Barclays advisers will receive about half of their pay in the form of a monthly payment; the other half will be paid out every three months, according to people familiar with the new arrangement. While both payments will be based on a production formula similar to that at other firms, the quarterly payment also takes into account values-based criteria that include professional conduct and customer complaints. Poor performance in these areas could lead to a reduced payout. Mr. Lee said the new pay model was “well received.” But Andrew Parish, managing director at Axiom Consulting Group LLC, says he has fielded calls from at least 10 Barclays advisers in New York, Los Angeles and Chicago, among other places, since they learned of the new arrangement late last year. So far, none has decided to move elsewhere, he said. [WSJ]

23 comments (hidden to protect delicate sensibilities)
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Comments (23)

  1. Posted by Man Fin | February 13, 2014 at 12:02 PM

    Professional conduct ??!!

    "Go fuck yourself, this is Futures baby."

  2. Posted by Mel | February 13, 2014 at 12:02 PM

    If I want to see international people compete for something, I'll go to College Park, Md and wave around 50$ for people to come paint my house. THAT will be a sporting event.

  3. Posted by guest | February 13, 2014 at 12:03 PM

    are you lost?

  4. Posted by guest | February 13, 2014 at 12:04 PM

    how long ya spend working on that one? all week or just the last 12 hours?

  5. Posted by Guest | February 13, 2014 at 12:16 PM

    I have a hard time believing that the employees overly concerned with having their pay docked for too many customer complaints are going to be the first choice at other firms.

  6. Posted by Maryland Map Quant | February 13, 2014 at 12:32 PM

    Hey, those north Atlantic roads can get confusing

  7. Posted by Hans and Franes | February 13, 2014 at 12:43 PM

    Go to UBS. You can paid ,,, Unless of course UBS breaks the LAW…

  8. Posted by Guest | February 13, 2014 at 12:43 PM

    Barclays sucks!

  9. Posted by wut | February 13, 2014 at 12:46 PM

    lolwut

  10. Posted by Guest | February 13, 2014 at 12:51 PM

    I would ask if you ate paint chips as a child, but it's clear you're still eating them.

  11. Posted by Rebecca M. | February 13, 2014 at 1:00 PM

    I'll blow you for that $50.

  12. Posted by Rebecca M. | February 13, 2014 at 1:00 PM

    In Soviet Russia, paid can you.

  13. Posted by guest | February 13, 2014 at 1:13 PM

    Speaking of comp at Barclays – saw them listed as an advisor on Comcast-TWC deal. Going to be a fun conversation at year end when the $20 million fee (at least) yields a sweet $100k cash bonus plus some deferred stock.

  14. Posted by No one | February 13, 2014 at 1:23 PM

    Yeah, can't wait to see how this one plays out…

  15. Posted by Guest | February 13, 2014 at 1:31 PM

    would this include the 12000 that are naturally going to have to look elsewhere?

  16. Posted by Guest | February 13, 2014 at 2:19 PM

    Our proprietary models are showing; no break up fee + Barclays + TWC trading at $8 discount to deal value + regulatory hurdles not yet approved + random DB comment propagating deal = short

  17. Posted by Quant me maybe... | February 13, 2014 at 2:59 PM

    Barclays: when working for the British government is not a option.

    Oh wait…

  18. Posted by Rebecca B | February 13, 2014 at 3:20 PM

    Same. But only on Friday's

  19. Posted by biglawinsecure | February 13, 2014 at 3:46 PM

    speaking of british things, how come indian chicks with british accents seem way hotter than indian chicks with american accents.

  20. Posted by Guest | February 13, 2014 at 4:03 PM

    Indian chicks with british accents tend to have bigger boobs.

  21. Posted by Quant me maybe... | February 13, 2014 at 4:31 PM

    And since they don't eat American food, narrower asses.

  22. Posted by Flo | February 13, 2014 at 4:33 PM

    It moved.

    – Raj

  23. Posted by guest | February 13, 2014 at 8:28 PM

    You meant "In Soviet Russia, paid gets you"

    -UBS Soviet Russia Quant