"On a pre-tax basis, last year's loss was £766m compared with £399m in 2010"
"For 2011, RBS said its investment bankers will share a bonus pool of £390m"
CityCyclingEdinburgh Forum » General Edinburgh
It's only (your) money
(11 posts)-
Posted 13 years ago #
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"On a pre-tax basis, last year's loss was £766m compared with £399m in 2010.
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Despite that performance, the bank paid out £785m in bonuses to staff in total last year."
What amazingly, co-incidentally close figures. And they wonder why the general public are railing against bonuses.
Posted 13 years ago # -
I see on the same page that council staff are on a pay freeze for the 3rd year
Posted 13 years ago # -
I have no problem with paying bonuses (I lie). I just don't understand why some people get them if they manage to meet a target as part of their normal job, but others (say a target of 1000 widgets a week) get sacked for 'under-performing'.
It also doesn't add up with 'what we are told' -
"investment bankers will share a bonus pool of £390m"
BUT that's supposed to be the toxic bit that needs to be separated to 'protect' retail banking.
But while the various bits are one company, it's like rewarding the salespeople for selling things but freezing the wages of people that make them.
Oh I forget, that's how 'it' works.
Posted 13 years ago # -
Within the context of a sick system, investment bankers will be recruited on the basis of earning a bonus for meeting personal targets. So it's not wholly contradictory that the bank, overall, makes a loss but some people within the bank are entitled to bonuses. Similarly, it can be possible for investment banking as a whole to make a loss (although it's not clear from the article that RBS' investment banking has made a loss) but some individual traders to be entitled to bonuses.
(If I could do really small text I'd write a disclaimer that this in no way endorses the scale of these bonuses).
Posted 13 years ago # -
Where I worked previously employees lost out on the 2009 annual bonus as the last quarters revenue was £238M just short of the £240M target set by the CEO. No doubt he reveived his bonus. Some of my collegues must have been confussed as they thought he was a Merchant Banker?!?!
Posted 13 years ago # -
I couldn't possibly comment. But I'm doing "my bit" (we're all in it together!) by waiving this year's discretionary bonus of £0 million.
Posted 13 years ago # -
lol,we were meant to get a bonus at the end of last year
dodgy phantom share affair from about 4 years ago
few folks were medically retired and got a £1500 'share' payout
6 months later they were revalued and we got a value of £0 each
we are due another payout this year
Im hoping Im not due them money!Posted 13 years ago # -
Another tale of two newspapers -
Posted 13 years ago # -
Our particular company within the group has done pretty well this year (i.e. actually turned a profit). The group has announced that bonuses will be paid, but for anythnig over a pretty small amount these are on a deferred basis. Some now, some later, some later still, pretty much all in shares.
Posted 13 years ago # -
Golden
Posted 13 years ago #
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