43% of City Staff Unhappy with Bonus

  Confab 23:12 07 Mar 2007
Locked

There have been several newspaper articles in London saying that top city bankers are earning huge bonuses. An article in one of today’s papers tells a difference story. Only 4000 workers were awarded £1,000,000 or more. 43.2% of those polled viewed their bonus as unsatisfactory and only 35% said they were satisfied. One bonds salesman was unhappy because he had been offered £550,000 so resigned in protest. His bonus was then increased to £700,000.

I think I need to start trading bonds.

  oresome 23:26 07 Mar 2007

There's no room for complacency in these high powered jobs. They're only suitable for types who strive for more all the time, so the survey isn't surprising.

  robgf 03:33 08 Mar 2007

It makes you wonder just what these people do with all this money. I have only ever earned a modest wage, yet live comfortably and don't have much that I want.
They must be very dissatisfied with life to quibble over such massive bonuses. I once got a £600 bonus and was really chuffed.
It's a whole different world. ;)

  Kate B 10:10 08 Mar 2007

It's not about living comfortably in that milieu - it's incredibly competitive. So it's about being appropriately valued - you or I might think a bonus of £1m is heartstopping but if you're a ferociously driven trader in the City, you're keeping a very sharp eye on the people around you and interpreting every nuance of performance against your own. It's a very Darwinian environment: you can be out on your ear in a heartbeat. So the guy at the next desk to you getting £250,000 more than you isn't about buying your holiday pad in Tuscany, it's about your worth to the bank relative to his - which is stressful and scary. The actual money is almost irrelevant.

  The Brigadier 10:11 08 Mar 2007

Does make me sad to read this.
I can remember when friends got 40k nowadays they only get may be 10k.
Life must be so hard for them!

  mikef. 18:38 08 Mar 2007

What's a bonus?

  SLAYER 18:46 08 Mar 2007

mikef
What's a bonus?
Still having money a week before payday.

  DrScott 18:49 08 Mar 2007

and probably never will - the NHS doesn't really believe in them.

  josie mayhem 20:15 08 Mar 2007

I know where you coming from DrScott... I wish my company believed in actualy paying you...

  interzone55 20:32 08 Mar 2007

For the first 15 years of my working life I was in high street retail, the industry that is under the most pressure at christmas (not counting the NHS) I never, ever got a Christams bonus, despite the fact that 50 % of the annual sales, and all the profits were made in the 6 weeks up to christmas.

So frankly the City bonus payments make me sick, there's also the fact that they totally distort the housing market in the South East as people rush to put the ill gotten gains into property.

  Noldi 20:40 08 Mar 2007

Bit of the same
Good to see John Lewis rewarding its staff with a bonus. Montivation is a great earner.

Noldi

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