bonuses

Europe has big plans to micromanage bankers’ bonuses and the first step of those plans is to figure out how big those bonuses are. And here is the answer! For 2011, anyway, and for bankers who made more than €1mm. It’s a report from the European Banking Authority based on their data collection project, in which national regulators were asked to collect data on all bankers within their borders who made more than €1mm.

I’ve had a go at putting it into a spreadsheet, which you should play with; you might find more interesting things than I did. But given that fixed vs. variable comp for high earners is the main focus, here’s the fixed/variable breakdown in various countries:
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  • 25 Jun 2013 at 3:18 PM

Bonus Watch ’13: Everyone *Could* Get A Raise

That’s what some report says now but seeing as how we’ve got about six months to go, that’s all subject to change/don’t get your hopes up/maybe your take home will quadruple/maybe you won’t get a bonus at all/etc. Read more »

  • 14 Jun 2013 at 5:02 PM

Bonus Watch ’12: Bank Of America

Bank of America Corp., the second-biggest U.S. lender, rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees said in court documents. Mortgage workers falsified records and were told to delay U.S. loan-assistance applications by requesting paperwork that the Charlotte, North Carolina-based bank had already received, according to statements from ex-employees filed last week in federal court in Boston. The lender improperly disqualified applicants to the Home Affordable Modification Program, or HAMP, according to a May 23 statement from Simone Gordon, a loss-mitigation specialist who left the company in 2012…Loan collectors who put at least 10 customers into foreclosure, including those who were in trial modifications, were given a $500 bonus, said Gordon, who worked at Bank of America for more than four years. Other rewards included gift cards for retailers including Target and Bed, Bath and Beyond, she said. [Bloomberg]

Your guess is as good as theirs! Read more »

  • 30 May 2013 at 3:01 PM

Bonus Watch ’13: UBS

You get a raise! And you get a raise! And you get a raise! Read more »

  • 02 May 2013 at 2:26 PM

Bonus Watch ’13: Macquarie

The Aussies have some angry junior mistmakers on their hands. Read more »

Actual question to ask yourself now, so you’ll have an answer ready should the offer make its way to the table: “If your company offered you a pay raise to tattoo its logo on your body, would you do it?” [CBS via Gawker]