Should bank bosses work for $1 too?

eFC logo

The bosses of Ford and General Motors have offered to work for salaries of $1 a year if Congress approves the $27bn aid package they're asking for.

It's difficult not to draw a comparison with banks, where the US bailout alone currently runs at $700bn and counting, but chief executives have not offered to work for free.

Instead, the likes of Josef Ackermann and Lloyd Blankfein have agreed to forgo their bonuses, but will still collect their salaries ($600k in the case of Blankfein).

At Citigroup, which has received $45bn in bailout cash so far, chief exec Vikram Pandit is still expecting a salary and a bonus.

Has Detroit got the right idea? Is it time for a little more humility in banking pay?

Popular job sectors


Search jobs

Search articles