Sorry, if my company does poorly I don't get a bonus...

growse said:
Ok, and why should every other employer be like yours, and every employee contract also be like yours?
Click to expand...

Reason (1) - We haven't had to borrow 20billion from tax payers? Strangely, we managed without borrowing any?

Obviously the comparison is nonsense. And none was intended other that to point the extremes.

But in a climate like this, where a company would not have existed unless proped up by tax papers money because it's doing so badly... To then pay out such HUGE bonuses while a lot of those very tax payers are suffering? Hmm....

There seems to be a very happy-go-lucky approach in banking where it's like a teenager having a baby. They know they've got society by the balls and can get the money they need should they be in trouble!
 
Last edited:
We got an email the other week saying that there wont be any pay reviews, then we got an email saying there was going to be some redundencies and in that they said that the directors had decided not to take a pay rise or bonus. I should blooming well think so!
 
[TW]Fox;13434438 said:
Why is it 'taking the pee'? It's called high level business. If you don't pay high levels of pay with a decent, structured bonus schemes then the high calibre applicants will simply work at your competitors, instead. If you want the right people, you'll pay the right wages and bonus's.

Just because you can't grasp this or won't be there yourself doesn't mean its 'unfair' and that your world of presumably 9-5 with a set salary is more 'real' than theirs.

Thats right, its how it works. They've presumably taken great levels of personal risk to get where they are today, and you've not. If you want some of that, then presumably the option of progressing to board level is there for you if you have what it takes. If you don't, then don't begrudge those that do.
Click to expand...

Maybe RBS wouldn't be in the mess that they're in if their "high calibre applicants" hadn't bet the farm on high-risk loans.
 
[TW]Fox;13434496 said:
It's also all part of the nonsense that makes many, many companies highly succesful.
Click to expand...

Certainly... But then, as you say, theses cases are successful... :rolleyes::confused:
 
NeilFawcett said:
Reason (1) - We haven't had to borrow 20billion from tax payers? Strangely, we managed without borrowing any?

Obviously the comparison is nonsense. And none was intended other that to point the extremes.

But in a climate like this, where a company would not have existed unless proped up by tax papers money because it's doing so badly... To then pay out such HUGE bonuses while a lot of those very tax payers are suffering? Hmm....

There seems to be a very happy-go-lucky approach in banking where it's like a teenager having a baby. They know they've got society by the balls and can get the money they need should they be in trouble!
Click to expand...

Personally, I don't see why state ownership precludes filling a company's contractual obligation to bonus their staff. After all, it's not as if we've thrown the money away. We now own some silly percentage of RBS. Give it a few years and we'll sell that back to the market at huge profit.
 
scorza said:
Maybe RBS wouldn't be in the mess that they're in if their "high calibre applicants" hadn't bet the farm on high-risk loans.
Click to expand...

You make it sound like every single trader was involved in 'betting the farm'. As I said above, it's one particular market where they didn't fully understand their risk. They've got plenty of high-quality traders in their forex / equities / bond markets who will happily make them pots of cash. Either they pay them their value, or they walk to rivals.
 
growse said:
Personally, I don't see why state ownership precludes filling a company's contractual obligation to bonus their staff. After all, it's not as if we've thrown the money away. We now own some silly percentage of RBS. Give it a few years and we'll sell that back to the market at huge profit.
Click to expand...
Let's hope so! But in the meantime the tax payer almost certainly suffers...
 
growse said:
You make it sound like every single trader was involved in 'betting the farm'. As I said above, it's one particular market where they didn't fully understand their risk. They've got plenty of high-quality traders in their forex / equities / bond markets who will happily make them pots of cash. Either they pay them their value, or they walk to rivals.
Click to expand...

You do of course have a fair point... It would be interesting to see how these bonuses follow though!
 
platypus said:
Yeah it's not on. Anyone in the financial sector getting bonuses, especially six figures.
Click to expand...

Nice way to tar a whole industry with one big brush.

What about those that work for independent wealth companies that did well in 2008 and made money. Are we suddenly not allowed 6 figure bonuses because of the actions of a big few?
 
KaHn said:
Same for oil and gas, both my new company and old are posting record profits even with the slump in oil price :)

KaHn
Click to expand...

Yeah, thats because everyone is half way through completion of the big contracts boom of 2007. The outlook for winning EPC business is not looking that rosy for 2009.
 
KaHn said:
Same for oil and gas, both my new company and old are posting record profits even with the slump in oil price :)

KaHn
Click to expand...
That's all purely down to last years oil price, in the last quarter last year the oil companies "barely" made a profit.

The arse is going to fall out of the oil and gas industry this year, the majors are going to be cutting jobs, some of the design houses have already cut contractor rates by 10% and laid people off. Exploration and associated drilling etc can all expect big drops in funding and major projects are already being postponed not only due to the crash in oil price, but also due to the lack of available credit from the banks.

It's squeaky bum time in the oil industry if it stays at $40, or worse drops. Depending on what the oil price does over the next year, they might even just be spending money on keeping the lights on and the HSE at bay.

We've been told we'll get a bonus of some sort purely based on last years performance, but if things stay as they are that it'll likely be binned for next year.

matt_fsr said:
If we all stopped paying our taxes the Govt. wouldnt actually be able to afford to take us all to court. Think on that.
Click to expand...
I doubt that many people here actually pay their taxes in such away that they could withhold them ;)
 
The cheek.

You get paid what you get paid in your contract.
Bonuses? be lucky if you get any, don't cry if you get none.

What the hell is with people these days.:(
 
ChrisJSY said:
The cheek.

You get paid what you get paid in your contract.
Bonuses? be lucky if you get any, don't cry if you get none.

What the hell is with people these days.:(
Click to expand...

It is in their contract that they receive a bonus. Some contracts will even stipulate a minimum bonus amount.
 
siandtina said:
Nice way to tar a whole industry with one big brush.

What about those that work for independent wealth companies that did well in 2008 and made money. Are we suddenly not allowed 6 figure bonuses because of the actions of a big few?
Click to expand...

But we're discussing the part-publically owned banks... which are clearly FAILED businesses, who are being propped up with public money, giving away huge some to incompetent senior execs. They shouldn't get 1p, contractual obligation or not! Makes me :mad:
 
matt_fsr said:
But we're discussing the part-publically owned banks... which are clearly FAILED businesses, who are being propped up with public money, giving away huge some to incompetent senior execs. They shouldn't get 1p, contractual obligation or not! Makes me :mad:
Click to expand...

They didn't fail, they found a buyer. In this case, the government. At some point in the future, the government will sell their stake and the taxpayer will make a profit. What's the problem?
 
growse said:
They didn't fail, they found a buyer. In this case, the government. At some point in the future, the government will sell their stake and the taxpayer will make a profit. What's the problem?
Click to expand...

And at this point the Government will pay us all a percentage for the money we've put in. Unlikely. The government will then pay themselves a nice fat bonus.



M.
 
You must log in or register to reply here.
Back
Top Bottom