Bonus Watch '13: UBS

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You get a raise! And you get a raise! And you get a raise!

UBS, Switzerland’s biggest bank, is boosting base salaries for investment bankers to retain key employees and help align pay with competitors, said three people with knowledge of the plan. UBS is informing staff of the move this week, said the people, who asked not to be identified because the plan hasn’t been made public. The average raise for employees in its advisory and trading businesses will be about 9 percent, one of the people said. Some employees may get as much as 25 percent, two of the people said. UBS expects to keep total compensation, including bonuses, unchanged if business conditions remain the same, one of the people said.

[Bloomberg]

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Bonus Watch '13: UBS

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Bonus Watch '13: UBS

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Bonus Watch '13: UBS

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.