Tag:
bank bonus
Latest Headlines
Latest Headlines
Auto pay increases for bankers may freeze
For junior bankers, there's a well-established salary path at most big banks, with regular automatic increases built in.
According to Bloomberg , "base pay for junior bankers typically increases automatically by about 15 percent to 20 percent, akin to a unionized salary scale, as they work
Cantor Fitzgerald thrives in decade since 9/11
One of the most gripping moments of the 9/11 crisis was the sight of Cantor Fitzgerald CEO Howard Lutnick crying on TV. He had lost 3 out of every 4 employees at his firm, including his brother. He survived only because he was taking his son to his first day of kindergarten that morning. And there
Wall Street bonuses rise for some, fall for others
You can feel the emotion over Wall Street bonuses building, with many people convinced they will get more this year, while others just aren't sure, especially if they work at a premier bank.
The bottom line is that bonuses are going to be hit or miss this time around. The key factors, of
Bonus pools still dwindling on Wall Street
Bonuses have been a hot topic as of late. While the collective bonus pool on the Street may be a bit higher than last year, the size of your bonus boils down to who you work for. We suggested recently that some people expecting big bonuses--and there are many--may be in a bit of denial. At the top
Are Wall Street employees in denial this year?
At the height of the financial crisis, Wall Street employers knew their bonuses would be bad. Last year, it was tough call. While employees knew earnings had soared at many companies, it remained unclear if management would allocate less to the bonus pool in the second half of the year as pay cont
Bonus pool plunges at Goldman Sachs, what to do?
Fresh off a very lucrative year that saw its bonus pool recover, Goldman Sachs employees are looking at smaller checks this year. Barring a massive unforeseen pickup in trading activity, Goldman's third quarter earnings will likely be weak--as will the full year. Assuming the compensation to reven
Tough quarter cuts bonus pool at Goldman Sachs
In the first half of 2010, Goldman Sachs (NYSE: GS ) set aside $9.3 billion to pay salaries, benefits and bonuses. That's a drop of about 18 percent from the first half of last year. So far this year, employees on average have accrued (so to speak) $272,581 in pay and perks, reports Fortune
Feinberg may force banks to give money back to government
Many banks are no doubt wishing that pay czar Kenneth Feinberg ( Kenneth Feinberg news) would quickly move to his new assignment as administrator of BP claims. He's been enough of a thorn in their sides to cause discomfort--but not enough of a merely caustic gadfly to be dismissed. His approac
More signs of backlash
We've been talking about the need for banks to be sensitive about the likelihood of a public backlash, as they bonus seasons rolls on. But the fact is that the backlash has already started--in Washington and on Main Street. You have to wonder what good a PR campaign is at this point.
Goldman S
Goldman Sachs shows the way
Goldman Sachs ( GS ) thoroughly trashed analysts' expectations, posting earnings of $8.20 a share versus expectations of $5.20 a share. This gave the stock an early shot. Investment banking and trading were strong, but the big news was the company's willingness to cut back on how much it pays em
