ChatterBank1 min ago
An Advantage Of Brexit?
The EU limited the level of bankers bonuses to no more than twice their annual salary. There's talk of abolishing that limit.
As we sit considering our Winter fuel bills isn't it good to know the shackles imposed by an unelected foreign bureaucracy are being cast off.
As we sit considering our Winter fuel bills isn't it good to know the shackles imposed by an unelected foreign bureaucracy are being cast off.
Answers
> It is not the business of public authorities to interfere with what companies in the private sector do within their comp policy. Except when it follows those authorities royally bailing out those companies because they were "too big to fail", when the very reason they were in danger of failing was their executives chasing uncapped bonuses without...
12:51 Thu 15th Sep 2022
ellipsis: "I don't object to uncapped bonues. I do wonder, though, why it's top of Kwasi Kwarteng's list as he becomes chancellor." - the EUSSR has always been envious of the City, they did their best to knock us down the their level. To attract the best you need to offer the best rewards. The chancellor is creating the conditions to restore the city. I work in a bank, I am not a banker but I benefit from what they do, my salary and bonus depends on them. In a bank everyone gets a bonus, everyone, from the lowest to the highest it's part of the system. It's like factory workers, their wages depend on the performance of their salesmen. Banks work on bonuses and salary they always have. What do you think happens to these big bonuses? They end up at the treasury when they are spent. Try and think beyond the front window occasionally.
Indeed, but it’s not, as you suggested, always down to the efforts of salesmen. I don’t think there were many Venezuelan salesmen trying to sell us coal in the early 80s, it was simply a fact that they could produce coal more cheaply, partly due to it being more easily accessible but also because Venezuelan miners were paid less.
naomi24
//^That's irrational. Bonuses only result from extra productivity. People asking for pay rises aren't generally doing any more than they do every day. They just want more money for doing the same thing.//
So is it fair that bosses gets a bonus when the business is underperforming or workers are getting below inflation pay rises?
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Or looking for a bailout?
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Is this fair?
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Or this? Bonus for failure?
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You can see why ordinary folk are getting a tad miffed, can’t you?
I have to ask because you have a propensity for ignoring the patently obvious.
//^That's irrational. Bonuses only result from extra productivity. People asking for pay rises aren't generally doing any more than they do every day. They just want more money for doing the same thing.//
So is it fair that bosses gets a bonus when the business is underperforming or workers are getting below inflation pay rises?
https:/
Or looking for a bailout?
https:/
Is this fair?
https:/
Or this? Bonus for failure?
https:/
You can see why ordinary folk are getting a tad miffed, can’t you?
I have to ask because you have a propensity for ignoring the patently obvious.
bonuses have a lot more to do with how the business as a whole is doing rather than the effort of individual salesmen (though this is normally considerable)... and the performance of a business is affected by more things than how hard people work...
unfortunately britain is not a meritocracy and how hard you work is more or less unrelated to how well you are compensated... some people are lucky enough to get the opportunity to work in high paying industries (and good for them) but this depends in the modern world on the education one is lucky enough to receive... other people slog at jobs which are absolutely indispensible to the functioning of this country (cleaners, shelf-stackers, lorry drivers etc) have not had a real-terms pay rise for 12 years because they are individually replaceable...
there shouldn't be any issue with people who have the opportunity to earn a lot to do that... but this "self-made" ideology which suggests that the rich are rich from hard work alone and nothing else has done immense harm to this country and needs to be kicked into touch!!
unfortunately britain is not a meritocracy and how hard you work is more or less unrelated to how well you are compensated... some people are lucky enough to get the opportunity to work in high paying industries (and good for them) but this depends in the modern world on the education one is lucky enough to receive... other people slog at jobs which are absolutely indispensible to the functioning of this country (cleaners, shelf-stackers, lorry drivers etc) have not had a real-terms pay rise for 12 years because they are individually replaceable...
there shouldn't be any issue with people who have the opportunity to earn a lot to do that... but this "self-made" ideology which suggests that the rich are rich from hard work alone and nothing else has done immense harm to this country and needs to be kicked into touch!!
"Whoosh" went the point, as it flew over Tora's head.
TTT, these bankers already get bonuses, on top of their salaries. Let's just recap my post of 13:51 yesterday:
1) when they had uncapped bonuses, they engineered the financial crash and we poor plebs had to bail them out
2) Kwarteng has a lot to contend with so it's VERY odd that uncapping bonuses that have been capped for eight years is top of his list - it smacks of corruption, much like the energy firms not being dinged with a windfall tax ... we plebs pay again!
3) assuming we do go back to uncapped bonuses, rather than the terribly restrictive mere 2X a huge salary that we have now, what is being done exactly to prevent a repeat of the financial crash ... or will the plebs not have to bail anybody out next time?
Heads the bankers win, tails the plebs lose, and Kwarteng's the one tossing the coin ...
TTT, these bankers already get bonuses, on top of their salaries. Let's just recap my post of 13:51 yesterday:
1) when they had uncapped bonuses, they engineered the financial crash and we poor plebs had to bail them out
2) Kwarteng has a lot to contend with so it's VERY odd that uncapping bonuses that have been capped for eight years is top of his list - it smacks of corruption, much like the energy firms not being dinged with a windfall tax ... we plebs pay again!
3) assuming we do go back to uncapped bonuses, rather than the terribly restrictive mere 2X a huge salary that we have now, what is being done exactly to prevent a repeat of the financial crash ... or will the plebs not have to bail anybody out next time?
Heads the bankers win, tails the plebs lose, and Kwarteng's the one tossing the coin ...
Zacs 12.45, not sure where that little hissy fit came from - quite bizarre - but I wasn’t wrong. The OP is about bonuses.
Zebu, of course people ask for pay increases to align their salaries with rising inflation, but that’s nothing to do with bonuses. Not quite sure why anyone is talking about salaries at all.
Zebu, of course people ask for pay increases to align their salaries with rising inflation, but that’s nothing to do with bonuses. Not quite sure why anyone is talking about salaries at all.
