Thinking you'd be getting a bonus this year? Think again, says the anonymous banker who spent the day bursting innocent financial services employees' bubbles and asking young children "riddle me this" re: why they think anyone other than their parents would not only a) give rat's ass that they went through the normal incidence of aging known as losing one's tooth and b) compensate them for doing so?
People familiar with Citigroup's thinking told Reuters that far more investment bankers were likely to get zero bonuses than before -- something banks concerned about retaining staff have traditionally avoided...One senior Citi insider said that only the key investment bankers with relationships that brought in fees could be sure to get a bonus. More junior staff or even hard workers and veterans who did not directly bring in revenues would at best get much reduced rewards, the person said. "There is still a sense of entitlement among most staff when it comes to bonuses, but any illusion about that is likely to be shattered this year," another banker said.