This could be you.
Exciting news from the House o' Gorman: employees will get more actual money come bonus time, like the kind you can use, touch, roll around in and less of the kind that's just sort of theoretical.
Morgan Stanley said on Friday it will pay more of its bonuses to employees upfront and defer less, because the bank is on a better financial footing and can move its pay practices more in line with those of competitors. The step will increase its fourth-quarter compensation by roughly $1.2 billion. The bank said in a filing with the U.S. Securities and Exchange commission that only around 50 percent of the bonuses Morgan Stanley employees are due in 2015 for their performance in 2014 would be deferred on average, down from about 80 percent previously. "Now that our business strategy is in place and the firm's performance has stabilized, it is time to bring our deferral policy to an appropriate long-term level, in line with the rest of the industry," Morgan Stanley Chief Executive James Gorman said in a memo to employees that was reviewed by Reuters. Its contents were confirmed by a Morgan Stanley spokesman.
Morgan Stanley to defer less of employees' future bonuses [Bloomberg]
