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How much would it take for you to work at SAC Capital?

What would you do if you were working at a sinking ship that’s throwing money at you, trying to convince you to stay? Portfolio managers and analysts at SAC Capital are facing that very predicament.

CNBC’s Kate Kelly is reporting that SAC, facing civil and criminal insider trading charges that have robbed the firm of nearly all outside assets, is pulling out the stops to slow the talent drain that’s already well underway. On Wednesday, the firm reportedly announced a new retention program for PMs and analysts that includes, among other things, larger base salaries and more aggressive bonus programs. Long-short PMs can earn a 3% bonus in addition to their annual take of P&L, according to Kelly.

On the surface, leaving SAC seems like the prudent decision for employees. Assets are waning, rumors are mounting that the firm will become a family office – meaning it’ll manage only inside assets – and authorities have essentially declared war on the Connecticut firm. But the money being offered by SAC, a firm already renowned for paying its employees top dollar, will likely make some think twice. After all, taking a voluntary pay cut isn’t on the top of every trader’s to-do list, especially when you already need to overcome the SAC stain in interviews.

Traders likely have a good deal of time to make a decision. A civil case against SAC Capital seeking assets will be delayed until the completion of a parallel criminal insider trading case, which is likely to drag on for some time itself.

The Happiest Investment Bank (eFinancialCareers)

In investment banking, names matter. Large bulge-bracket banks work on the biggest deals, create all headlines and have the most gravitas. But that doesn’t mean they employ the happiest, most satisfied employees.

Getting Personal (WSJ)

The legal battle between Standard & Poor's and the U.S. Justice Department is getting ugly. The rating service accused the Justice Department of filing its $5 billion suit against S&P in "retaliation" for downgrading U.S. debt in 2011.

Getting Hired as an Investment Banking Analyst (eFinancialCareers)

The role of investment banking analyst has transformed dramatically since the financial crisis. Here are some unusual ways to prepare for the job.

Vik is Back (NY Times)

Former Citigroup Chief Executive Vikram Pandit and other investors financed a $100 million round of funding for CommonBond, a startup that helps MBA students refinance their debt.

Long-Running Feud (WSJ)

Details surrounding the apparent suicide of Zurich Insurance Chief Financial Officer Pierre Wauthier are beginning to emerge. His relationship with now-former chairman Josef Ackermann, who he blamed in his suicide note for creating an unbearable work environment, crumbled over the firm’s lack of progress in meeting certain business goals. The two disagreed over how to explain the failures.

‘Transgression’ Won’t Cost Job (Bloomberg)

James Bisenius, founder and chief investment officer of Common Sense Investment Management, will continue to run the firm despite being arrested last month in a prostitution sting. “He will deal with this recent event as the personal matter that it is,” the Oregon firm said in a statement.

Pimco Getting Crushed (Bloomberg)

Bill Gross’s Pimco Total Return Fund suffered $41 billion in net redemptions over the last four months.

Buzz Around the Office

Can I See Your Resume? (MSN)

The makers of the video game Grand Theft Auto may be taking themselves a bit too seriously. For their latest installment, Rockstar Games has decided to elicit the help of actual gang members to voice the criminals. Wonder what the interview process entails.

List of the Day: Your Boss Hates You

Deciphering whether your boss is out to get you or just woke up on the wrong side of the bed can be difficult. Here are three tell-tale signs it’s the former.

  1. You receive new duties that are well below your qualifications.
  2. You are denied permission for professional development.
  3. Your boss rarely ever takes your calls.

(Source: AOL Jobs)

AUTHORBeecher Tuttle US Editor

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