Weep for your 2010 bonus if you work at BAML. Rejoice if you work at RBC Capital Markets

The good news is that French banks' share prices are rebounding this morning. The bad news is that the rebound will need to be significant to wipe out yesterday's losses. The worse news is that, across the board, the share prices of leading investment banks are down an average of 33% last year. And that a higher proportion of last year's bonuses were paid in deferred shares.

This creates a dilemma as shares vest. Sell or hold? How bad will things get when the traditionally quiet summer period comes to an end? What if you receive an offer to have your deferred stock bought out by a new employer? - Should you really accept these depressed prices?

As our ranking below reveals, these problems are currently most acute at BAML at SocGen. They barely exist at Royal Bank of Canada. Comparatively, 2010 stock bonuses at RBC Capital Markets are looking fairly generous.

% Change in stock price: January 3rd 2011 to August 11th 2011

1) Lloyds -53%

2) Bank of America -52%

3) SocGen -45%

4) Credit Suisse -42%

5) Morgan Stanley -42%

6) Citigroup -42%

7) RBS -40%

8) Barclays -38%

9) Goldman Sachs -36%

10) UBS -32%

11) Lazard -30%

12) BNP Paribas -28%

13) Deutsche -26%

14) JPMorgan -22%

15) HSBC -21%

16) Standard Chartered -20%

17) RBC -6%