The mood: less than enthused.
Second (going into third year) fixed income trading VP at Barclays: bonus = $130k. $100k cash cap for everyone. The balance was split 50/50 between deferred cash and stock, both of which vest on a 3-year schedule. Happily, the Fed is keeping rates at 0 forever, so that $5k we're due in 2015 is worth $5k today...Also, a round of cuts for EDs and MDs is coming soon. Bitterness, listlessness, and enervation describe the prevailing mood.
The juniorest of mistmakers have received their numbers (and a little perspective). "Barclays first year analyst bonuses: massive range, 20k-55k. Analysts got 20k, 25k, 35k, 40k, 45k, and 55k at top. Most groups are expecting cuts within the next few months so while some people are dissatisfied, most are just happy to have jobs."
In an effort to strike a balance between being competitive and responsible, Bob Diamond will only receive 6.3 million pounds ($10 million) for his work in 2011, down from $9 million in 2010. Technically, his total package amounts to 17 million pounds ($26.9 million), but that includes stuff from previous years. [Reuters]
