Tag:
Salaries
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
Class warfare rages as Occupy Wall Street protests continue
When the economic tide is lifting all ships--big yachts as well as dinghies--we don't hear much about class warfare in America. Nothing binds us like collective, albeit relative, success. As long as the vast middle class is prospering, it doesn't really care if the upper class is prospering even m
This bonus season, more employees get nothing
Recall that the movement to reform pay on Wall Street led to a big shift: as the political angst over big bonuses ratcheted up, the top firms started paying more in salary, with their eyes on reducing bonuses. So many employees across the units--bankers and traders, as well as back office workers-
Bank employees vs. bank shareholders
Who is suffering more at premiere banks: employees or shareholders? Well, if an employee gets laid off anytime soon the answer obvious. But it's a little more subtle assuming the big layoff wave will not hit in the fourth quarter. According to Breakingviews , you've got to balance the rise or d
Morgan Stanley vs. Goldman Sachs on pay
Bloomberg offers some interesting metrics regarding the always interesting Goldman Sachs vs. Morgan Stanley battle. Morgan Stanley (NYSE: MS ) allocated nearly $8 billion to pay salaries and bonuses and other compensation in the first half of the year, up from $5.78 billion a year earlier.
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
John Mack's big pay raise raises brows
Are we in for a return of big executive paydays? John Mack ( John Mack news) wisely declined to accept a bonus over the past three years, but he's being rewarded now that he's chairman. The board last week boosted his base salary to $2 million a year from $800,000.
The salary increase resul
What to do about that bank tax?
The banking industry is in a quandary when it comes to the recently proposed bank tax. On the one hand, it does seem rather unfair and may well be unprecedented in its punitive nature. On the other hand, the public is angry right now, and that anger is palpable. It was directed at Tim Geithner pre
When will AIG cut government ties?
Now that Bank of America ( BAC ), Citi ( C ) and Wells Fargo ( WFC ) have extricated themselves from TARP and are basically off the public dole, you might be wondering about that other behemoth known as AIG ( AIG ), which got into so much trouble in the CDS market. The reverberations from
How Citi will retain top employees
Citi ( C ) has been saying for the longest time that its TARP obligations will hurt its retention and recruitment efforts. No one doubts that's true, though there are other reasons why someone might not want to work there. But the bank seems to have come up with a partial solution, if employees
