bonuses

Maybe you’re a Jefferies employee who thinks the light at the end of the tunnel is near. Bonus time’s a’ comin’ and once you get yours, you’re out of this place, you’ve told family and close friends. Just a couple more months and you can bust out. Break free. Live again. Just gotta wait for the money for last year’s work to hit your account and bye-bye Jefferies, hello the first day of the rest of you life, right? WRONG! Jefferies is trying out something new this year and it’s called you’re not going anywhere. Continue reading »

Really low. Like lucky if you get a free cannoli low. Continue reading »

Supposedly. Continue reading »

Will you be thanked for your hard, non-rogue-esque work over the year? Probably. Will you receive any actual money? Probably not. Continue reading »

How’s your PnL looking so far this year? Happy your long dollar position is starting to look good? Or are you annoying your b-school alumni affairs office asking them to post more jobs for experienced grads (Hey, Columbia, are you reading this? Get to work!).
Either way, if you have time to read this, I’ll bet you’re not doing as well as Adam Levinson. No, not that jerk from Maroon 5 — that’s Adam Levine.
Adam Levinson is doing WAY better than Adam Levine. For one, no one’s calling him a no-talent bastard to his face. For another, Fortress Investment Group just gave him $300 million in shares. But that’s not the first time he made more money than you or that weasel Adam Levine.
According to Jeffrey Cane of Portfolio.com (who wrote a piece linking to a lot of other pieces I didn’t read; As a former derivatives trader, I like to think of this as derivative journalism):

“Levinson, whose annual income Trader Monthly estimated a year ago was between $75 million and $100 million, joined Fortress in 2002 from Goldman Sachs. “

Then Cane asks the question we all ask ourselves when we read such things, if only to make ourselves feel better:

“The package shows that even amid a slowdown, firms are still paying out huge sums to star traders and dealmakers. Are they worth it?”

If you’re not Adam Levinson, the answer to that question is usually, “Hell no! Give that money to me!”. However, if you’re Adam Levinson, the answer is inevitably, “Hell yes! I should be paid more!”
Apparently, a Citigroup analyst disagrees with Fortress and Levinson and Cane provides a nifty quote. However, at the rate things are going, Levinson can buy out Citigroup, fire the analyst, and delete Adam Levine’s bank account so we don’t have to read about his dating exploits ever again.
Apropos of nothing, I always think of this site when i think of Adam Levine.

  • 15 May 2008 at 11:19 AM
  • bonuses

Shocker: Bonuses Will Be Down In 2008

The Wall Street bonus pool will be even shallower this year, according to the most obvious report ever.

As merger activity slows and banks write down billions of dollars of assets, bonuses for investment bankers and stock and bond traders could decline by at least 10 percent in 2008, while top executive bonuses could fall by as much as 35 percent, according to the report dated May 2.
The credit crisis will mostly affect bonuses for workers directly involved in trading and selling assets like subprime mortgage bonds, the report said.

It’s kind of awesome that someone got paid to write that report.
Wall Street bonuses could slide in 2008: report [Reuters]

  • 31 Jan 2008 at 2:24 PM
  • bonuses

Eating Out (On Charlie Gasparino)

charlie gasparino.jpgThose watching CNBC’s “The Call” circa 11:30 this morning know that Charlie Gasparino lost a bet to Mary Thompson over how big Lloyd Blankfein’s package would be this year, with Melissa Francis officiating. The terms of the wager stated that the loser had to buy dinner at Campagnola. Interestingly enough, No Sleeves claims that he didn’t lose anything, but was simply doing the chivalrous thing that anybody boy worth his Rego Park salt would do, and treating the ladies (his words: “It’s the gentlemanly thing to do, and I am a gentleman”). Bull shit. The fact that said dinner, which came to $412.40, was paid for with a Visa card bearing the name “Gasparino” (expiration date: 09/08) is irrefutable proof that Charlie Gasparino is a terrible judge of size. Anyway. As NS noted, we enjoy chronicling his every move, from “what deli meats [he] eats to where [he] works out,” so obviously we sent Intern Scott to pose as the pepper grinder and take copious notes, as well as the Visa number with which we bought a bunch of shit for ourselves (mostly Italian delicacies filled with nitrates so the theft would go undetected). His report:
- Charlie: Mixed green salad, Dover sole with ketchup (women registered shock and disgust over choice of condiment, and I would agree), steamed broccoli on the side. (Consumption of the salad seemed forced, as though he would’ve preferred another dish but sensed he was being watched)
- Melissa: pasta with some sort of cream sauce (recommended by maître d’ “Frankie”)
- Mary: house salad
- Melissa/Mary: Split a T-bone for 2, home fry potatoes, creamed spinach, steamed broccoli
- Sooprezat on the table, Charlie didn’t touch it (odd)
- White wine
- 1 Napoleon, split three ways
- Charlie gave shit to some Goldman guy
- Frankie mentioned that Charlie had been there the night before, and the night before that
- “A lot of pinky rings”
We also have some brief footage of the dinner, after the jump.

Continue reading »