Compensation

  • Marriott Marquis

    News

    Compensation Watch ’13: Soon-To-Be Former CNBC Anchors

    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.

    / Nov 20, 2013 at 3:23 PM
  • ricks-caberet-260x260

    News

    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 […]

    / Sep 10, 2013 at 4:41 PM
  • kenneth-griffin

    News

    Even When He Wasn’t Engaging In Securities Fraud, Admitted Insider Trader Richard Lee Found Ways To Get His Jollies On

    Richard Lee, the ex-SAC Capital trader who pleaded guilty to insider trading last week, was fired from a rival hedge fund over a bonus-boosting scheme that was uncovered his first day in a new job, The Post has learned. Lee was ousted from Ken Griffin’s $15 billion Citadel Investment Group in 2008 for fiddling with […]

    / Aug 1, 2013 at 1:23 PM
  • Ordered by increasing percentage of fixed comp. The percentage label is % of total comp that comes from fixed comp.

    Banks

    Bonus Watch ’11: European Banking Authority Is Keeping An Eye On Everyone

    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 […]

    / Jul 15, 2013 at 1:12 PM
  • John Varley: not Bob Diamond

    News

    Barclays Was Never Sure If It Cared Most About “Loving Success,” “100% Energy,” or “Think Smart”

    Here you can read an independent review of how Barclays lost its way and I submit to you that the fundamental problem was grammar: In 2005, John Varley launched the Group’s five Guiding Principles – ‘customer focus’, ‘winning together’, ‘best people’, ‘pioneering’ and ‘trusted’ – demonstrating intent to oversee the Group through one set of […]

    / Apr 3, 2013 at 12:14 PM
  • News

    Wells CEO Highest-Paid Bank Chief, Carlyle Founders Profoundly Unimpressed

    If you had John Stumpf in the office “highest-paid U.S. bank CEO for 2012″ pool, congratulations.

    / Mar 15, 2013 at 1:45 PM
  • Just reading some stuff in an empty cafeteria, what's up with you?

    Banks, News

    Credit Suisse And UBS Put Little Pieces Of Themselves In Their Compensation Plans

    Swiss bank annual earnings are here so we might as well check in on what they’re up to with comp. You and I may think of comp in pretty straightforward ways – if you did good, and your employer did good, you get paid well, and if not not – but Credit Suisse and UBS […]

    / Feb 7, 2013 at 1:10 PM
  • Sources: GS earnings release, Google Docs, my own two hands, random errors introduced by me, etc.

    News

    Goldman Welcomed New CFO With A Nice Earnings Beat

    If you read a lot of media coverage of Goldman Sachs earnings you get the sense that the most important number the firm reports is average compensation per employee, which this year was a nice oh-so-close-to-round $399,506. I CONCUR, of course.1 Also of interest is the comp ratio, which was only 39% this year, as […]

    / Jan 16, 2013 at 5:54 PM
  • intense Lloyd

    Banks

    Goldman Exits A Tax Trade Early

    Here is an important cultural difference between the US and the UK that you should, like, stick in the boot of your lorry or whatever: in the UK, it’s apparently not socially acceptable to put off paying bonuses by two months to save your employees five percentage points in taxes. In America, it’s considered perfectly […]

    / Jan 15, 2013 at 2:48 PM
  • News

    Paul Taubman’s Gardening Bill: $1.7 Million

    Not that he needs the work, but ousted almost-former Morgan Stanley dealmaker Paul Taubman will be available on May 5.

    / Jan 7, 2013 at 1:53 PM
  • jamiedimon

    News

    This Is America, Last Time Jamie Dimon Checked

    Jamie Dimon, the CEO of the country’s largest bank by assets, says that regulating Wall Street pay could put us on the road to communism. “We all want an equitable society. We need to have a conversation about what makes it equitable,” the JPMorgan Chase CEO said at The New York Times DealBook conference on […]

    / Dec 13, 2012 at 5:43 PM
  • bonusbitch

    News

    Bonus Watch ’12: Whole Bunch Of Financial Services Employees Will Get Nothing, May Or May Not Like It

    Santa will leave many bankers and traders empty-handed this holiday season. One in five Wall Streeters won’t get a bonus for 2012, according to a closely watched compensation study set to be released next week. That figure is up sharply from last year, when roughly 13% of bonus-eligible employees got no added year-end pay, according […]

    / Oct 25, 2012 at 6:19 PM
  • Soothing soothing Brussels

    Banks, News

    The EU Wants Bankers To Get A Nice Interest Rate On Their Deferred Pay

    In the war against bankers’ pay the EU has a secret weapon: Banks should pay bonuses in debt, which would be wiped out if a bank failed, an EU banking report will suggest as Europe attempts to step up the fight against bankers’ pay. I’ve been sort of fond of this for a while. It’s […]

    / Oct 2, 2012 at 11:44 AM
  • It's certainly *possible* that one or more of these people is a mutual fund manager, and/or dapper.

    News

    Mutual Fund Managers Get Paid For Picking Good Stocks Only When It’s Worth It

    Mutual funds are kind of weird in that they basically aren’t allowed to get paid for performance, so they charge investors a flat percentage of assets under management, so for mutual fund managers looking dapper on CNBC is often more profitable than sitting in your office researching stocks. Still – and perhaps perversely – performance […]

    / Aug 16, 2012 at 5:09 PM
  • richard_handler--300x300

    News

    Bonus Watch ’12: Jefferies Wonders Aloud How Its Ass Tastes

    Jefferies set aside $870 million in the first six months of its fiscal year, enough to pay its 3,809 employees an average of $228,407. Goldman Sachs set aside $225,789 for each of its 32,300 workers. Average pay for the 26,553 people in JPMorgan’s investment bank was $184,989, or at least 18 percent less than Jefferies’s […]

    / Jul 26, 2012 at 12:30 PM
  • News

    Vikram Pandit Is Committed To Getting Paid

    If you didn’t know Chief Executive Officer Vikram Pandit, you might think he enjoyed not being compensated for the work he does at Citigroup because for quite some time, he wasn’t. And although the “I will only get paid $1/year until Citi turns a profit” exercise was fun for a while, he was pretty happy when the old jalopy started making money again, in part because it meant he could receive a paycheck. Then last April, his shareholders rejected the bank’s executive pay plan, claiming the Big C “lets Chief Executive Officer Vikram Pandit collect millions of dollars in rewards too easily.” And while it’s possible that Citi shareholders are just a bunch of pricks who chose to overlook the fact that Uncle Vikula didn’t collect squat for several years and once had an entire article written about the fact that lieutenants attributed a “new bounce in his step” to him daydreaming “the day when he is going to earn more than a $1 a year,” maybe they just assume that he doesn’t care about getting paid either way? Anyway, here’s Vickles, reminding anyone who forgot about the sacrifices he made and setting the record straight:

    “The board has this process with them, they’re going through it, and they are committed, as I am, to making sure that they resolve this,” Pandit said. “I want to get paid what the board thinks is right for me, for the job that I’ve done and for the incentives that they think I ought to have.” Pandit told lawmakers in 2009 that he would take a $1 annual salary until he restored the bank to profitability.

    Citigroup made a $21.7 billion profit for 2011 and 2010 combined, compared with a $29.3 billion loss for the two preceding years. “When the company was losing money, I stepped up and said I’ll take a dollar a year and I did, exactly for that reason, exactly the right thing to do,” Pandit said.

    For those having trouble separating the nice guy/don’t want to offend anyone statement from what he’s actually trying to say, a rough translation of the above would be: get me paid, bitch!

    Citigroup Will Resolve CEO Pay By End Of Year, Pandit Says [Bloomberg]

    / Jun 22, 2012 at 11:58 AM
  • News

    Bonus Watch ’13 & Beyond Will Be Pretty Predictable In Europe

    You would think that European regulators have a lot to worry about with their banks but they’ve got time for a surprising distraction: finalizing a plan to cap bankers’ bonuses at 1x base compensation*: Bankers’ bonuses across the European Union are set to be limited by law, with many bank lobbyists admitting in private that […]

    / Jun 13, 2012 at 7:08 PM
  • News

    Fourth-Highest-Paid Bank CEO Made Negative Ten Million Dollars in 2011

    Here is a fun thing we can do, which is put arbitrary numbers in a list and see how they look. Shall we? We shall. First, here is how much various bank CEOs and assorted other miscreants made in 2011, if you don’t worry too much about what “made” and “in 2011″ mean*: This list […]

    / Jun 5, 2012 at 4:43 PM

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