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  #21  
Old 11.01.2011, 14:13
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Re: How about a limit on your bonus?

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Just wanted to gauge opinion here with all the fuss about the size of the bonus given (earned?) to some Bankers.

How about we pass a law across the EU that restricts a bonus to a maximum of 10% of your annual salary? This is across all industries/job descriptions. What is the upside of this? What negative effects would it have?

You do a job and you get a basic salary, if you do it well then you can get a maximum bonus of 10%. Seems fair doesn't it, or am I missing something?
Who would you have determine who did a good job? The government? Just sounds like more bureaucracy to me.
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  #22  
Old 11.01.2011, 14:17
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Re: How about a limit on your bonus?

Hello? Why would anyone have to say how much I make if it is not me and my company???
and BTW I am not a banker
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  #23  
Old 11.01.2011, 14:18
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Re: How about a limit on your bonus?

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Just wanted to gauge opinion here with all the fuss about the size of the bonus given (earned?) to some Bankers.

How about we pass a law across the EU that restricts a bonus to a maximum of 10% of your annual salary? This is across all industries/job descriptions. What is the upside of this? What negative effects would it have?

You do a job and you get a basic salary, if you do it well then you can get a maximum bonus of 10%. Seems fair doesn't it, or am I missing something?
I think that most bankers would love to move to Switzerland.
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  #24  
Old 11.01.2011, 14:22
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Re: How about a limit on your bonus?

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I think some other places also have a similar system but can't recall who they are.
Those are the famous Castro brothers in Cuba: no one gets higher salaries than them.
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  #25  
Old 11.01.2011, 14:30
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Re: How about a limit on your bonus?

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Hello? Why would anyone have to say how much I make if it is not me and my company???
and BTW I am not a banker
word.

...................
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  #26  
Old 11.01.2011, 14:30
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Re: How about a limit on your bonus?

I cannot fathom why bankers need bonuses to work harder or better - but NOT other people, like nurses, etc?

Yes, pay them bonuses but not if we are asked to bail them out.

Many of us have worked so hard all our life, without bonuses that's for sure, to build a modest nest egg - which has been blown away by recklessness totally out of our control by said bankers.
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  #27  
Old 11.01.2011, 14:33
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Re: How about a limit on your bonus?

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I cannot fathom why bankers need bonuses to work harder or better - but NOT other people, like nurses, etc?

Yes, pay them bonuses but not if we are asked to bail them out.
a nurse doesn't make there employers millions of chf in profit a banker does.

eta I can only assume people knocking the bonuses have never actually worked in a bank
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  #28  
Old 11.01.2011, 14:37
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Re: How about a limit on your bonus?

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Many of us have worked so hard all our life, without bonuses that's for sure, to build a modest nest egg - which has been blown away by recklessness totally out of our control by said bankers.
how did the bankers lose anyones nest egg??

if you blindly give someone your money to invest, then take no notice of whats happening in the world, then whose fault is it if you lose it all???
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  #29  
Old 11.01.2011, 14:49
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Re: How about a limit on your bonus?

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Just wanted to gauge opinion here with all the fuss about the size of the bonus given (earned?) to some Bankers.

How about we pass a law across the EU that restricts a bonus to a maximum of 10% of your annual salary? This is across all industries/job descriptions. What is the upside of this? What negative effects would it have?

You do a job and you get a basic salary, if you do it well then you can get a maximum bonus of 10%. Seems fair doesn't it, or am I missing something?
Bear in mind your rule would effect many different companies, not just the ones you are discussing.

I'll talk from my perspective as it is relevant - I work for a small financial company (about 10 people). In good years the company makes healthy profits but in bad years it makes not a lot. The basic salaries are modest, but in the good years the bonuses can be decent.

The employees are happy to work on the basis that it is worth the modest salaries in order to receive the bonuses when the good years come.

If your rule was implemented, the company would have to increase the salaries to retain staff. This would mean in the difficult years there would be a much greater necessity to fire people, whilst in the good years the owners would make a lot of money and not be able to distribute it to the employees.

So if you want my feedback, I would say it is a bad rule...
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  #30  
Old 11.01.2011, 14:55
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Re: How about a limit on your bonus?

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how did the bankers lose anyones nest egg??

if you blindly give someone your money to invest, then take no notice of whats happening in the world, then whose fault is it if you lose it all???
Heard of Interest rates on savings going from 7% t0 0.5? Of housing market collapsing in UK? Of exchange rate going from 2.60 to less than 1.50?
No wild and dangerous investments here.
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  #31  
Old 11.01.2011, 14:59
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Re: How about a limit on your bonus?

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Heard of Interest rates on savings going from 7% t0 0.5? Of housing market collapsing in UK? Of exchange rate going from 2.60 to less than 1.50?
No wild and dangerous investments here.
so you kept all your money in a bank savings account, not very wise (or profitable).

housing market collapse, well it didn't happen overnight, and didn't really collapse, and would only effect you if you had to sell you place now and it wasn't your home, bigger places have gone down in pirce more so its actually an excellent time to trade up (especially with the low interest rates)

exchange rate, well as your in switzerland (I guess) then its doing you a huge favour, send as much cash back to the uk as you can.
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  #32  
Old 11.01.2011, 15:05
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Re: How about a limit on your bonus?

Work my ass off and earn only 10% more than the lazy guy next to me? No way.

I would push to link bonus to long term performance though. Some top level people in my company were paid millions in bonus in the years leading up to the crunch. The people who work for them made bonuses maybe up to 50% of their (relatively low) salary. When the crisis hit, the lower level people lost their jobs, and if they didn't, they didn't get a bonus or increase for the next couple of years (which is correct). However, it is very unfair though that their bosses walked away with millions in their pockets!
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  #33  
Old 11.01.2011, 15:09
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Re: How about a limit on your bonus?

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so you kept all your money in a bank savings account, not very wise (or profitable).

housing market collapse, well it didn't happen overnight, and didn't really collapse, and would only effect you if you had to sell you place now and it wasn't your home, bigger places have gone down in pirce more so its actually an excellent time to trade up (especially with the low interest rates)

exchange rate, well as your in switzerland (I guess) then its doing you a huge favour, send as much cash back to the uk as you can.
On a UK pension? You make me laugh. And yes the housing market collapsed very very quickly in the Midlands.

some of us were a bit too busy working our socks off (without bonuses - because we believed our jobs were worth doing) to play around with the stock markets. You can't say 'if you too risks, tough' and at the same time 'you didn't take risks, stupid'.

I know my comments about bonuses are 'naive' - but it is about time bankers were a bit more sensitive about how we 'ordinary' people feel.

Do reply to my question though. Why are bonuses necessary for bankers to work hard - and not for other people? What makes bankers so different?
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  #34  
Old 11.01.2011, 15:14
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Re: How about a limit on your bonus?

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Heard of Interest rates on savings going from 7% t0 0.5? Of housing market collapsing in UK? Of exchange rate going from 2.60 to less than 1.50?
No wild and dangerous investments here.
On the other side of the coin, this would benefit some people.
Borrowers and debt holders would like lower interest rates. Housing values falling to more reasonable levels can attract people to the market that couldn't afford the prices before.
Exchange rates falling would benefit people buying goods in the other country.
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  #35  
Old 11.01.2011, 15:15
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Re: How about a limit on your bonus?

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On a UK pension? You make me laugh. And yest the housing market collapsed very very quickly in the Midlands.
glad to help, but I still don't see your point, if you have a house and pension in the uk then what are you doing here? if its your only income then you have a choice, go back to the midlands and you'll be no worse off then before the crash, the exchage rate is a touch break but hardly the bankers fault, and unless your selling your house today and don't have to buy another one then the house price 'crash' isn't affecting you at all.

the house price crash was forecast years before it happened, it was blindlingly obvious for all to see the bubble was totally unsustainable, the only suprising thing about it was prices didn't crash harder and faster then they did.
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  #36  
Old 11.01.2011, 15:19
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Re: How about a limit on your bonus?

Thanks for the advice - how kind of you. House in UK sold - house in CH bought. Why are we here? Could it do with the fact I am Swiss, perhaps.
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  #37  
Old 11.01.2011, 15:22
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Re: How about a limit on your bonus?

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Do reply to my question though. Why are bonuses necessary for bankers to work hard - and not for other people? What makes bankers so different?
because the people that actually make the money would walk if they didn't get rewarded for it, its simple economics
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  #38  
Old 11.01.2011, 16:21
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Re: How about a limit on your bonus?

And if they all did 'en masse' where would they go- just as a matter of interest?

Second question, why do 'simple economics' not apply to other professionals?

Last edited by Odile; 11.01.2011 at 16:36.
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  #39  
Old 11.01.2011, 16:49
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Re: How about a limit on your bonus?

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Who would you have determine who did a good job? The government? Just sounds like more bureaucracy to me.
No, that would still be your boss. But the most he can give you as a reward is 10%.
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  #40  
Old 11.01.2011, 16:51
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Re: How about a limit on your bonus?

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Hello? Why would anyone have to say how much I make if it is not me and my company???
and BTW I am not a banker
Nobody is limiting what you get paid, just what you get paid as a bonus. You can give yourself a pay rise anytime....
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