Barclays – Bonuses Down, Salaries Up
Sneaky. Britain’s second- biggest lender plans to raise investment bankers’ base salaries as a percentage of total pay by as much as 150%. The raises are expected to be backdated to June this year as the bank looks to compensate staff following the bonus crackdown. An added bonus will be getting additional cash in before the tax hikes due next year. In future, performance pay will be made in stock and deferred …
Sneaky.
Britain’s second- biggest lender plans to raise investment bankers’ base salaries as a percentage of total pay by as much as 150%. The raises are expected to be backdated to June this year as the bank looks to compensate staff following the bonus crackdown. An added bonus will be getting additional cash in before the tax hikes due next year.
In future, performance pay will be made in stock and deferred for up to three years in accordance with the new guidelines.
The Telegraph reports:
All banks are reviewing their bonus policies in light of a series of new regulatory codes, which demand a greater proportion of bonuses are paid in shares.
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