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What If You Had to Return Your Bonus?

How (if at all) would your life change if you had to give back your 2008 bonus?

Various elected officials are exploring "every possible legal means and otherwise" (Sen. Dodd's wording) for forcing rank-and-file bankers, traders and other marked men and women to give back their "shameful" bonuses.

If you worked for your current financial-sector employer throughout 2008 and received or are on the verge of receiving a discretionary bonus for last year, how would your personal finances and spending be affected if you were forced to return your bonus payment to the government?

Please answer as concretely as possible. And, please provide some information about your bonus amount (such as the percent of base you received), and describe in general the business segment you work in, the type of employer, and your level within the organization. (If you aren't comfortable posting this kind of information in the forum, then you can email us privately at useditor@efinancialcareers.com )

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AUTHOReFinancialCareers News Insider Comment
  • Wo
    Wolfman
    13 February 2009

    If I was head of an organization that lost hundreds of millions or billions of the investors or shareholders money, I shouldn't receive a dime. In fact I should probably go to prison for allowing it to happen. Face it, we would not be discussing this if what I said above hadn't happened. If I had met the company goals and creating value for the shareholders, I should get a bonus based on that performance. Be glad you got a job!

  • Ra
    Rachel
    12 February 2009

    I will return my bonus if it is going to help other people. Some people have no place to stay or food to eat. I shouldn't be worried about a bonus at this point. Thank God I still have a job

  • Ak
    Ako
    11 February 2009

    since I have recently been laid off I am counting on my bonus to help bridge the gap to my next job. Bonuses are already lower than last year and I worked my butt off- they would have to pry them from my cold dead hands

  • Ji
    Jim
    11 February 2009

    The bonus I got in 2008 was my deferred bonus from 3 years prior paid with my pink slip. Give it back? I agree with all comments except 2 and 3. We have no idea what the agreements for these individuals say about their annual or termination distributions. Odds are if these execs weren't paid, they would file law suites that would get their money due plus legal fees to get it.

  • go
    goingtozero
    6 February 2009

    i'll return my bonus when chris dodd tells us all about his "friends of angelo" loan and obama's cabinet members start paying their taxes...

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