BarCap Boys and Girls Getting The Royal Treatment

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As previously mentioned, in tough times like these, not in lieu of but perhaps in conjuntion with professional counseling, we invite you to lay down on the Dealbreaker couch and let it all out. If anyone else has a grievance they'd like to work through and/or more widely disseminate, send it our way. From the mailbag:

Much like BofA, the legacy Barclays folks got screwed this bonus season. Barcap bonus numbers were ~50% of what the Lehman people got, with 50% of that lower number deferred over the next two years, making the Barcap folks all feel like second class citizens.
Now what you may not be aware of, is that Barcap also switched over to the Lehman analyst system (3 years and you're out if you don't get an associate offer). By some magical coincidence (AKA 10-person analyst promotion board composed 80% ex-Lehmanites), hardly any of the third year Barcap analysts got promotion offers. They are being told that if they did not get a promotion offer, they will be done in June and will not be receiving any of the deferred portion of their comp. I don't know why you would put a number down on paper, just to slide it across a table to tell the person that this is what they will NOT be receiving, but that's exactly what they did.

When the numbers were being given out, many of the analysts were told by their group heads that the deferral had originated in London, that they honestly didn't think London had thought it through properly, and that they were going to fight to cancel the deferral for analysts. These same group heads have quietly gone back on their words. If an organization is going to (forgive my french) ASSFUCK analysts the way Barcap just did, I think people joining up should know.

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