Banking and bonus's

[barbelblanker]

Since I've managed to climb out of the hole that my bank charges kept pushing me down and been "clean" for over a year now, my local branch is being closed. I knew I was keeping it going with just them charges.

I agree with bonuses where they are put there from the outset and used to reward staff for performing. That way you can pay a lower salary but have the possbility of actually ending up better off if you do the work well. If you scive you end up with a lower salary and no bonus.

BUT! and it is a big but. In my experience bonuses in large companies become a political football with those in favour and those who can blow their own trumpet being paid more than the people genuinely getting on with the job. Also bonuses are so open to manipulation it's unreal. This is what has happened at RBS, they change the way they report and BINGO! big bonus time. In this case they should be shot.

As for other bankers getting a bonus for doing a genuinely good job, I have no problem with that as long as it is their performance rather than just the amount they oversea. If a toddler with a crayon could do as well as them then they deserve nothing but if they really do know their stuff , good luck to them. Wouldn't swap my lifestyle or do the things they do. Merchant banker, the job that is also it's own rhyming slang. [potentially libelous remark removed].
Of course it all begins to look a little obscene when you see the rates of pay for our nurses etc. So I can see that excessive bonuses for an easy job are not on.

If we make this country a cynical state where there is no possibility of "making it big" with the right vehicle then we will lose the banks etc. to China and eventually Africa. We also stifle those that want to get out there and run their own business with the risks and benefits this brings without a tax regime that throttles them (ex Computer contractor, bit close to home this bit).

As most of us have pensions reliant on the economy I doubt we'd be quite so quick to condemn if our pension is so well managed we can retire in comfort.

As for RBS bankers, it's a bit late in the day for the politicians to act all upset now, they control the bank , did they not see these bonus proposals before they were agreed and if not WHY NOT?

Probably too busy trying to deny us access to their expense claims.


And ..... relax!

[Appleman]

A very balanced view! Thank-you