24
Jun

Banks have increased fixed salaries by 25%-75%

Escrito el 24 junio 2009 por Antonio Rivela Rodríguez en Uncategorized

As I mentioned in a prior blog, bankers would do whatever it takes to maintain their main goal: getting paid!

They are not doctors or teachers that do it because they like it (…well in general).

They pursue their careers in order to increase their bank accounts the sooner the better.

One of the very topics not touched by journalists yet is their fixed compensation: The so called fixed salary.

I have talked to many bankers in the city and there is something going on in their salaries… In most of the cases they have been increased by 25% to 75%… yes!… your ears are fine…. twenty five to seventy five per cent….

As a rule of thumb the typical Managing Director making GBP 120,000, has been upgraded to the GBP 200,000 area.

I know this numbers are not crazy, because in this industry, people do not work for fixed salaries but for bonuses. And this is the only way to retaining talent without alerting journalists or, what´s worse…. disappointed shareholders.

Bloomberg has just reported a 50% increase in Citi´s fixed base.

Nice bank…. I would not say… the best managed bank in the world… But congrats to the bankers!

You are getting away with it.

Click for CitiGroup article in Bloomberg

Comentarios

styczen 5 enero 2014 - 14:02

You should check this out…

I saw this really good post today….

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