The fuss at RBS is over proposed bonuses of 75k a head
The disaster that is the next RBS bonus round has suddenly taken a new turn.
Following this morning's revelation that the government has "seized" the bonus pot, Robert Peston, he with a handle on all things governmental, reported this afternoon that the RBS board plans to resign if the government won't indulge its urge to pay bonuses totaling 1.5bn to staff at 250 Bishopsgate this year.
Peston also says the powers that be at RBS want to elevate the bonus pool to 1.5bn, up from last year's 900m.
While this is a substantial increase, spread across RBS's 19,000 global banking and markets staff, it amounts to a comparatively inoffensive 75k per head.
Last year, the average bonus per head at Goldman Sachs was $160k. This year, it's likely to be more than double that. Needless to say, Goldman Sachs is not 70% owned by the British government, however.
