Some employees are preemptively miffed and, frankly, insulted.
"Deutsche bonus structure for Associates-Directors was revealed today:
*Up to eur50, all cash.
*Eur50-100, 70% deferred. Yes...
*Eur100+, 85% deferred."
"MDs become 'covered' employees under BaFin, and get f'd even worse, with an Morgan Stanley- style cash cap.
Notional amounts come out Tuesday, but with this structure, who cares?!"
The good news: there will still be bonuses this year, which is something! The even better news, for those who'd describe themselves as fans of tantric bonuses: it'll be a while before you see it all.
The Germans might take an ax to bonuses, cutting them by 20 percent, or they might not. According to CEO Anshu Jain, what it may come down to is whether or not other banks will help him out here by getting on board with the proposed reductions, as it would make DB look bad to be the only firm doling out tough love this year. Thanks in advance.
The new CEO has big plans.