Pay nothing to juniors this year?

14 July 2009

1 minute read

Analyst bonuses are being announced as we speak, and so far they don't appear too bad - unless, that is, you work for an unspecified bank as a corporate broker.

According to Financial News, an unnamed corporate broking institution has told its employees that no one below vice president level will be receiving a bonus this year.

The rationale for this appears to be the fact that the company has received more than 100 applications for each of their jobs.

Assuming the same holds across the City, the laws of supply and demand surely dictate that juniors should receive no bonus at all for 2009. Discuss.

AUTHOReFinancialCareers UK

Insider Comment

Go
Gordan
23 July 2009
Let me tell You a story and then think if that bonus is so important. Imagine yourself living in a country where whole life since You were a child You were a good student and allways did your best. You sacrificed best years just to finish your colledge as soon as possible and to get started and then harsh reality. You realise that your diploma is worthless and You will never get a chance to work in economy or get a position for which You studied. I am currently unemployed and will remain like that for some time probably after which I will work in storehouse or something similar for which no school is needed. Anyway to cut the drama, I just want to tell You all that missing one bonus is no big deal because You are getting knowledge, which noone can take from You, and u can move on at any time. My current education level is master degree in economy and if u have any idea how to start a career fell free to send suggestions at tds84@ymail.com
Reply
yo
youbet
14 July 2009
Don't pay them and see what happens. You will be left without analysts. For sure. Especially if you are not a buldge bracket.
Reply
De
Deus X
14 July 2009
Having had experience climbing the ladder at a big institution, i agree that one has no bargaining chips in the first year... BUT your boss (who gets paid the bonus) must understand that without you, he wouldn't have been where he is - ie. in the position to get paid. That assumes the usual drill: 16 hour work days and the pleasant slave labour camp atmosphere... I think that any sensible organisation and boss should pay for performance and keep that "long run" argument to themselves... in the long-run, we are all dead!
Reply
SP
SP
14 July 2009
I prefer Breitling
Reply
Th
The performer is an idiot
14 July 2009
@ The performer-Tyoical arrogant attitude. You wont last long. The reality is given half a chance most people could do this job!
Reply