FYI, someone is not happy with how you're running this joint, Mr. Grübel!
55K for top bucket 1st years and 70 for 2nd. Massive disappointment as that means pay was flat YoY. It also blows that the first banks to give numbers are shitty ones that are low-balling. Now even if MS/GS/JPM were planning on paying out better, they have no incentive. PLEASE post something so that a dialogue on this outrage can begin. Really want to hear others' reactions.
The Swiss bank will reportedly announce today that it's going to be doing things a little differently around here re: compensation. One, deferrals will start at $250,000 and two, rather than being paid in UBS stock, the non-cash portion of 6,500 senior employees' bonuses will come in the form of subordinated debt that can and will be wiped out in the event the amount of capital on hand falls below the level required by EU regulators, putting the onus on everyone to make sure no one pulls an Adoboli and avoids multi-billion dollar fuck-ups in general.
Not everyone received a package that resulted in a nice long cry. Andrea Orcel, for example, did pretty okay for himself.
