Lunchtime Links: Google is buying back a software engineer with $3.5m of restricted stock
It is a sign. While investment banking compensation is clearly going down, compensation at key technology companies is clearly going up. Hence, in a move taken from the investment-banking-compensation-rulebook, Google is reportedly discouraging a software engineer from leaving for Facebook by offering $3.5m of restricted stock.
Felix Salmon speculates that this was responsible for Google's across the board 10% pay rise this week.
"The risk is....that Google is still going to cave, on a case-by-case basis, to star engineers waving job offers elsewhere," he suggests. While the FSA is trying to make buybacks a thing of the past in investment banking, they are clearly alive and well in technology companies.
Google sacked the person who leaked the memo about the pay rise. (Guardian)
The French are pushing for a global transaction tax. (Sky News)
Either Anshu Jain or the former finance director of BMW will be the head of Deutsche Bank. (Financial Times)
Deutsche has hired a global head of inflation trading from SocGen. (FinChannel)
Nomura has hired Lehman's ex-high frequency team. (Wall Street Journal)
Morgan Stanley's spinning out its quant prop trading unit. (DealBook)
Interdealer brokers are suffering from low volatility. (Evening Standard)
Vikram Pandit has no clothes. (Baseline Scenario)
Bank of Ireland expects its profits to plunge 40%. (Evening Standard)
Buy Madoff's boxer shorts. (Telegraph)
Goldman Sachs interview tips are a trap. (Dealbreaker)
"I've gone from a six-figure income to seriously looking at positions that are going to be paying probably half as much." (McClatchydc)
Organising the MBA applications process. (Wall Street Oasis)
Are you concerned about ETFs? (Moneyistheway)
