bonuses

  • 31 Mar 2014 at 2:58 PM

Bonus Watch ’14: Mike Cavanagh

Mike Cavanaugh gave up a lot when he quit his job as the co-head of JP Morgan’s corporate and investment bank to become president and co-COO of the Carlyle Group. He gave up the chance to see the words “heir apparent” mentioned in every article written about him for the next five years, or until Jamie Dimon decides to retire. He gave up the bi-monthly treat of having Dimon take him down to the entrance of 270 Park and tell him that one day, everything the light touches will be his. He also gave up millions a year if you’re only looking at base pay, though it’s unclear why you would do that. Read more »

  • 18 Mar 2014 at 4:17 PM

Bonus Watch ’14: Barclays Senior Staff

Dealbook reports that, like the rest of the firm, Barclays top executives did pretty well for themselves this bonus season, despite the bank doing not so well re: earnings. As previously mentioned, Chief Executive Antony Jenkins found himself between a rock and a bunch of employees who said they would quit if they weren’t made to feel loved in the way of compensation this year, and decided he had not choice but to increase bonuses. Clocking it at the highest paid member of Team Barclays was Hugh Skip McGee III, which is probably a good thing, as he’s been known in the past to make a stink when things don’t go his way. Read more »

You’ll get yours in due time, provided your record turns up clean/you didn’t do any favors for any big boys. Read more »

Why stop here? Why not just give Montag his office and parking spot, too? Read more »

  • 07 Mar 2014 at 3:12 PM

Bonus Watch ’14: JP Morgan Whistleblowers

Keith Edwards did pretty well for himself last year. Read more »

  • 05 Mar 2014 at 5:05 PM

Bonus Watch ’14: Barclays Had Two Choices

Choice number one was to cut bonuses for a second year in a row, lose all its investment bankers in the US, and turn the place into a Gold’s Gym. Choice number two was to increase bonuses and stop the mass exodus. After many a sleepless night, CEO Antony Jenkins decided to go with the latter but lest anyone be getting ideas, this was a one time thing. Next year he won’t worry about placating anyone, mass exodus or not, and if you don’t like that you can, as his predecessor’s daughter would say, HHD. Read more »

  • 05 Mar 2014 at 9:15 AM

Bonus Watch ’14: A Kinder, Gentler SAC Capital

But SAC also took steps to keep employees on board in the firm’s new incarnation by sweetening its compensation plan for this year, the people said. Under the new terms, employees who stay through 2014 will be subject to more-relaxed rules about pay that is deferred until later years…SAC typically has held back a quarter of employees’ pay each year, investing it in the firm for the next three years and paying out that 25%, plus any investment gains, over the course of three years, according to people with knowledge of the matter. Under SAC’s old plan, employees choosing to leave the firm would forfeit any deferred compensation that had not vested. For this year, SAC said employees’ deferred compensation would vest immediately instead of over three years, though they still will be paid out over three years, the people said. That means that, even if employees were to leave SAC in January, they would be entitled to collect all the money owed them. [WSJ]