Charlie Gasparino is hearing that senior bonuses at Citi this year will be paid out half in stock that vests in five years and half in cash that only 20 percent of which is immediately available (30% of the cash portion will supposedly be awarded in two years). For those who don't know you're supposed to stop pushing the Q-tip when there's resistance who may be having trouble figuring out why some people wouldn't be so happy about being paid in such a structure, Chaz's source explains:
"Just do the math," this person said. "You get a bonus of $1 million, just 20% of it you receive on the pay date. You're left with $200,000 cash and half of that is taken in taxes. That's why these guys are so pissed."