Compensation

  • 29 Jul 2014 at 11:44 AM

Morgan Stanley Has A Treat For Senior Junior Bankers

It’s not all “if you don’t like your pay STFU or GTFO” tough love over at the House of Gorman. The firm’s oldest junior bankers are getting a nice little bump to their compensation to help out with liquidity issues they might be facing. Junior junior bankers are getting hope that they might one day get raises too. Read more »

  • 04 Jun 2014 at 1:59 PM

Bonus Watch ’14: Junior Portfolio Managers

While their banking brethren received word of compensation with directions to go outside if they had to cry, adolescent portfolio managers at hedge funds did well to quite well for themselves last year, as did everyone else they work with. Read more »

  • 07 May 2014 at 4:08 PM

Glass Lewis Wants To Know Where JPMorgan Gets Off

…paying its top executives like they’re hot shit, when, in reality, they’re no better than, I don’t know, Citigroup. Read more »

Bill Gross set to blow again in 5…4…3…2… Read more »

Deutsche Bank reduced salaries and bonuses at the investment bank, which also includes sales and trading, by 14 percent to 5.34 billion euros last year from 6.24 billion euros in 2012, the company said. The compensation fell 23 percent in the fourth quarter from a year earlier. “We are keeping an eye on the competition and the pack that we’re competing with for talent,” Jain said. “What we are doing is something the whole industry is doing at varying speeds.” The bank hasn’t lost a “material” number of investment bankers after overhauling its compensation system, which includes staggering annual bonuses over a longer period, he said. [Bloomberg]

Rupert is said (by a newspaper he owns, so maybe they actually know?) to be shelling out a few million for the $Honey. No word on perks. Read more »

  • 10 Sep 2013 at 4:41 PM

Bonus Watch ’13: Rick’s Cabaret

Former exotic dancers who were employed at Rick’s Cabaret International Inc. are entitled to be paid a minimum wage, said a U.S. judge who ruled that they were club employees and not independent contractors under the law. Former strippers sued Rick’s Cabaret and its corporate parent RCI Entertainment New York in U.S. District Court in Manhattan in 2009, alleging they weren’t paid any salary in violation of federal and state labor laws. The dancers said they instead received money from customers including “performance fees” for personal dances. Publicly traded Rick’s Cabaret argued that it exercised “minimal control” over the women, whom the company said were independent contractors not covered by labor law. Rick’s Cabaret also filed a countersuit for “unjust enrichment” claiming that the performance fees the dancers earned should be counted against any statutory wage obligation of the defendants. U.S. District Judge Paul Engelmayer in New York today rejected the defendants’ bid for summary judgment, or a ruling before trial, concluding that Rick’s Cabaret had “regulated almost every aspect of the dancers’ behavior within the club.” [Bloomberg, Related: Bankers And Traders “Legitimately” Expensing Strip Clubs Do Rick’s Cabaret A Solid]