Thread: City Bonuses up by 50% this year.

City Bonuses up by 50% this year. Radio 4 discussed this on the news this morning.

How is that happening? Surely the banks had a terrible year partly caused by their bad decision-making and analysis. Also pretty much all the banks I deal with in business AND personal banking range from 'pretty terrible' to 'absolute shower' in terms of service, ease of use, info etc Not blaming the staff per se - and some small bonuses make anyone's year bearable but...just the whole system seems in bad way this year - so why is it ok to give such a large rise in bonuses?

I'd fetch the Outrage bus but in order to finance it I was required to get a few print outs from my local Lloyds - but they say printing a few pages will crash their system. I called and got through to a teenager I could barely understand and they advised I go to my branch. At the branch they said it has to be resolved by phone. Catch 22. So...I'll see if there is an Outrage Bicycle in the shed.

WTF?

Originally Posted by Yokel

WTF?

I was, in fact, just going to write that (what you wrote) under the heading " City Bonuses up by 50% this year." It beggars belief.

Originally Posted by Mr_Deputy

City Bonuses up by 50% this year. Radio 4 discussed this on the news this morning.

How is that happening? Surely the banks had a terrible year partly caused by their bad decision-making and analysis. Also pretty much all the banks I deal with in business AND personal banking range from 'pretty terrible' to 'absolute shower' in terms of service, ease of use, info etc Not blaming the staff per se - and some small bonuses make anyone's year bearable but...just the whole system seems in bad way this year - so why is it ok to give such a large rise in bonuses?

I'd fetch the Outrage bus but in order to finance it I was required to get a few print outs from my local Lloyds - but they say printing a few pages will crash their system. I called and got through to a teenager I could barely understand and they advised I go to my branch. At the branch they said it has to be resolved by phone. Catch 22. So...I'll see if there is an Outrage Bicycle in the shed.

Commercial high st banks may be still squeezed - but everything else is dealing quite happily and making money.

This is our dear Mr Brown and Mr Darling reining in those nasty bankers, after the fiscal meltdown caused by them in the first place

So long as we still cling to the myth that 'the market' is the net outcome of natural forces which act impartially, we'll continue to hand the keys to the till to the people who control it.

Learn to live with it or do something about it. Your choice, Britain.

Originally Posted by smartascarrots

So long as we still cling to the myth that 'the market' is the net outcome of natural forces which act impartially, we'll continue to hand the keys to the till to the people who control it.

Learn to live with it or do something about it. Your choice, Britain.

Bizarrely, many folks are now making a mint doing something about it......its a strange world...

If it is coming from a bank that has not got money from the UK Government then be grateful: 40% tax. 1% Employees NIC & 12.8% Employers NIC means it is a nice little earner for the Treasury.

Indeed, the City funded a great deal of Gordons spending spree.

It is the finance/investment side of banks that are doing well.

Example, in Q3 Deutsche Bank(11th biggest lender in Europe) made $2.1b net profit. But this pales into insignificant's(sp) compaired to Goldman Sachs and JPMorgan, the later of which had Q3 profits of $3.6b.

When you look at these sort of profits coming in, you can't help but think you are in the wrong job.

Originally Posted by Mr_Deputy

City Bonuses up by 50% this year.

I assume this is up by 50% on last year when things really were dire right? Be interesting to see what the levels were like over the last four or five years for a better picture.

There are something like £6bn in bonuses last year was £4 bn. That would help us out alot at the moment.
One good thing - I work in a rich Surrey town and at leat you see the guys spending the bonuses. Its "add an extension to the house" time!

Fair play to 'em, I dont deny anyone a bonus, if someone offered me slab after slab of lolly for doing my contracted job id consider the morality of it for the length of time it would take me to slip on my Pringle overcoat before booking a table at the Roussillo..chin chin

Originally Posted by reni_77

Fair play to 'em, I dont deny anyone a bonus, if someone offered me slab after slab of lolly for doing my contracted job id consider the morality of it for the length of time it would take me to slip on my Pringle overcoat before booking a table at the Roussillo..chin chin

.....and last time I checked there was no restriction on anyone becoming an investment banker/economist/analyst - except ability.....

Originally Posted by Alsacien

Originally Posted by reni_77

Fair play to 'em, I dont deny anyone a bonus, if someone offered me slab after slab of lolly for doing my contracted job id consider the morality of it for the length of time it would take me to slip on my Pringle overcoat before booking a table at the Roussillo..chin chin

.....and last time I checked there was no restriction on anyone becoming an investment banker/economist/analyst - except ability.....

Up to a point, Lord Copper.......

http://www.amazon.co.uk/Fooled-Rando...6128193&sr=8-1

except ability.....

Isn't it the lack of that got us into this mess in the first place