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Bankers Pay And Bonus


Norman Verona

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Sh*t happens.... :cry:

It's beyond my remit, so let them get on with it whilst I figure out ways to make mine and my own familiy's lives better.....

If we all spent as much time being enterprising and creative rather than p*ssing and whinging about what some overpaid socially inadequate tw*ts have or don't have, we might all be better off... :d :d :laugh:

Surely the major hypocrisy here is the fact that the plonkers who employed the bloke and laid down his terms and conditions, ie the previous Labour government....are the ones shouting the loudest about it being wrong....

F**kin' hypocrites...Simply out for a bit of political gain without even the moral fibre to admit they are the tw*ts who instigated the feck up in the first place.....You couldn't make it up....

Pretty much sums it :t-up: :t-up: :t-up:

Petty jealousies tend to look ugly , these massively paid jobs are available for anyone who wants them , all you have to do is work your nuts of at school , work your nuts off at college/ university , then work your nuts off at work , put stupid amounts of time in , maybe get to see the family once a week , and learn the game while you are doing it all.

Would I do it , well I didn't put the time and effort in , but I get by thanks . but I have no problem with those that do . And while I am sure it is not as simple as that , in general with life the rewards are proportional to the effort .

I am sure that these highest earners would love to spend their time whingeing and bellyaching on internet forums , but just can't squeeze it into their schedule :laugh: :laugh:

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Was a good rant wasn't it. :love:

Norman is he or has he given value for money. Yes I would accept any job that paid that much, I was an industrial mercenary for many years but doing what I do working in some of the Sh*t holes of the world, working on top of industrial bombs ain't funny. However he earns sorry gets paid what he does but in these times of austerity is it right.

Soot 1e we have indeed sold ourselves down the river but can't we limit our imports voluntarily, France seems to do ok. In our greed for the trappings of success we have just about ruined our country. Still the best place in the world to live though.

Bob----------and breath :t-up: need a beer.

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Well this has stirred things up a bit. The RBS bank is owned mainly by whom and they made how big a profit last year, may I ask who paid for that profit. I don't think its beyond the realms of reality to understand why we all pay the guys wages and bonus (now revoked). We as little fish are always paying out shedloads of cash so that some chinless prat can make money out of us. I guess its called business but it stinks big time. Car insurance being an example. When you see the market traders behaving like animals to gamble your money purely to gain what used to be there own fancy new car, now that is small beer they are paid millions and have no scrupples whatsoever. We have not much in the way of industry apart from the financial sector and that does make shed loads but it also has recently lost a bucket full and guess what , we all pay and they get fatter whether we loose or make money. Ain't no justice so either accept it or vote in another loads of numpties who loose it all in another way. The sooner we invest and heavily in this country the better and also we need to provide products that people need and will buy. Foreign TVs and white goods, we are all happy to go out and buy German cars etc etc because they are pretty quality items. I'm as guilty as most. So why can't we do it. We are too busy with our small town mentality wanting to make a fast buck, not much in the proud to be British brigade as its not fashionable. We would rather pay daft ar*e Rooney mega bucks for knocking a sheeps bladder about. We have lost the plot in this country, roll on drier days when I can get the Westfield out for some attitude re-adjustment. Need either a straight jacket or some of that electro whatever brain treatment.

Rant well and truly over, he could have donated it to some old age pensioners who do need it.

Bob :love: PPPPPPRINGLES

It is not just us, the Americans have done the same. Their car industry is crap, jap cars are everywhere. The avergae Yank can see that the economy has been sold down the river but like there we are to blame. Everyone who has a pension that is not provided by the state, has bankers working for us. We get a semi when we see the shares going up and the share bonus growing, but they do this by employing people who only are driven by money and growth at any cost. Do you ever stop to consider this when you pension pot grows? we get what we deserve really. The genreral population has little interest in polotics, so we see vacuos people elected who are career polioticians without any experiance, because they look good on TV.

The banks need good people to compete, RBS shares will do well but only once the crap is sorted, which he seems to be doing, and when the Euro crisis is over, these will go up with a huge leap whne that happens as will all bank shares. When that happens and RBS is sold on people will see it as a good investment, unfortunatly the envy of people will always blind them to the facts.

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I don't think I really said he was doing a bad job ( I may have done ) I just feel that in this day ang age and considering his already large salary of 1.2m the bonus was a bit excessive and badly timed. We need strong industry no matter what it is, but we must be able to compete instead of accepting the never ending cycle of closeures. I do have as you may have gathered a patent hatred of bankers. They make nowt and charge us for the pleasure. Some of us remember the 1970's when the News at One was full every day of companies closing and the numbers of jobs lost, bl**** depressing. We have never recovered except for the leisure industry, but you need money to be able to do the gym bit, a snip at £50 per month each sir. I'd rather perform DIY liposuction than pay that much to sit and watch the pretty bums of the ladies in the Gym. Just off to post my application form now.

We won't fix it but we still know its bust. One thing for sure is the bl**dy coal is still in the ground waiting for us to get it out when the time is right. Rant subsiding now a bit. Beer working.

Bob :suspect:

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Bob, you may hate bankers but are you aware of the amount of tax paid by the city? It's an eye watering amount.

Now, if you think of the city as a factory processing money it becomes our largest manufacturing industry.

I recall all the years when the only measure we used as to our success was our balance of payments. I now understand that the so call "invisible" earnings (ie the money the city made) was way understated and had it been correct we would not have had a deficit.

One of the reasons for Irelands success (until recently) in attracting manufacturing business was their 10% corporation tax on manufacturing. They included software development as manufacturing.

The world changes. If you want to compete with the Chinese or Indians in making widgets you'll lose. If you want to compete on the things we do well, like financial services and software then we may just win.

Business is now global. Look at how many non-UK people run our UK based corporations. We need to pay the going rate for these people. Or would you rather do as the Labour government did in the 60's and create another "brain drain".

The point is not whether he is paid too much. The point is he was given targets to meet and he met them. The agreement was that he would get a bonus of £963,000.

I'm very left wing but understand that if we are to survive we must employ the best business leaders. And that costs.

(Oh, and by the way, most of France is very poor compared to the UK. They're new car registrations are a fraction of the UKs and the wages are lower. Where I live it's rare to see a new car parked outside a house and also rare to see a household with two cars. Indeed the locals here can't understand why we have 3 cars - they don't yet know we have 4!)

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Norman,

agree with all your points, are the French limiting themselves to what they can afford and have they been actively encouraged as we were, to spend more than we could afford to repay but are resisting.( well up until the financial crash that is) Are they buying predominantly Peugots, Citroens etc French products. Sadly a big proportion of the population of the UK spent tomorrows money at the open encouragement of the bankers and now we all must pay.for their poor strategy. Or was it merely to get the situation under control once and for all, but these things are cyclical they suggest. Haven't actually seen it before but them I'm just a little over ehm 59. Did the boom years of the 60's make us all spend spend spend or was it something else. I recall credit limits on any finance arrangement when I was a yoof. They were giving away money a short while ago. Thank f**k I didn't go down that route as I wouldn't be able to afford to pay for my kids University fees and living costs or maybe I could just take the student loan and pay it and the compounded interest back over the next 25years almost like the mortgage they wont be able to afford. Any worthy leader of a company should be well rewarded as well as the employees they all add to the wealth creation of that company. The recognition of only the elite is just that elitist. Are the workers not worthy enough to reward or have they been. I know our bonus system is a sliding scale and would you believe the higher ups get a larger percentage but they are obviously more worthy and quite rightly so. Enough its turned into a rant again, all I know is that the vast majority of this country have either gotten themselves into a right mess or been placed there by the actions of others whilst the few leaders of men take their mega dosh and probably move on. Big Big up for Bill Gates to actually state that he believes the rich should pay more tax to help the country out and also offer was it 850million dollars more for philanthropic works. Still won't put food on the pensioners plates but it may help someone.

But the scroungers will still be scroungers won't they.

Off on one again apologies

Bob :down:

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We have a bonus scheme at work. When we meet our company target it's accepted that it's been a team effort and everybody has excelled. So, everybody gets exactly the same bonus, the same amount, not percentage. The senior managers get the bigger salaries, which is absolutely right, but the bonus for success is shared. I think that's a good thing. Everybody understands that whatever they do, the business overall wouldn't work without the efforts of everyone.

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Can i come back to this tomorrow. I'm just off to bed (it's 11:36 here) and we're out tomorrow.

Watch this space.

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Bob, they do keep to the income. Credit cards are not common here and you pay annual fees for them. Everyone has a Carte Bancaire (bank card).

It's a different culture here insomuch that people are not driven to work all hours. They prefer to be at home with the family. Nearly all families sit down together for the evening meal. Most work less than 40 hours per week.

When I first came to France (to stay with my cousins in Paris) nearly every car was a Renault, Citroen, Peugeot, Simca and French Ford. Now, like the UK every make is on the road.

I don't recall the 60's being a free for all. In those days we had proper bank managers who would look you in the eye, make a judgement and say yes or no to your loan request. HP was controlled by a minimum deposit (seem to remember it was 25%). I well recall the budget that removed this minimum and our car sales doubled for the next 6 months.

The whole point about this RBS CEO's bonus is not whether it's right or wrong, not whether it's too high (or low) it's about something that was contractually agreed and now he's had pressure put on him to turn it down. He didn't set the terms or value of the bonus, his pay board did.

Bill Gates is referring to the USA where the multi-millionaires often pay less tax than the factory workers. Obama wants these people to pay more tax and they are hampering his efforts.

FBB, I agree with the common bonus scheme, I've always had similar in my business. But not the same for everyone, the "pot" is divided up with different amounts per department then each member of the department gets a share commensurate with there position. It's paid monthly based on the months sales results.

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Just to re-ignite this profitable thread...

Clicky

As for my opinion?

Good. :t-up:

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Good indeed; shouldn't they be breaking a sword over Mr. Shred's back and shoving a spur up his jacksy too?

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We have a bonus scheme at work. When we meet our company target it's accepted that it's been a team effort and everybody has excelled. So, everybody gets exactly the same bonus, the same amount, not percentage. The senior managers get the bigger salaries, which is absolutely right, but the bonus for success is shared. I think that's a good thing. Everybody understands that whatever they do, the business overall wouldn't work without the efforts of everyone.

Only the managers get a bonus where I toil, hate them, hate the company, hate work and I'm only there for a couple years before I retire.

PS. They also hate engineers, it's a two way understanding.

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Yippee, stripping his knighthood will pay for everything! Get the 650k a year pension from him, along with the other board members perks, the FSA officials and government departments that looked the other way, and give it to the current CEO who is doing a boody good job.

Let the criminals get away with a caution, & bang to rights the guy who is trying his best to fix it! I wouldn't blame him if he just packed it in and went elswhere where he is appreciated.

Mind you, not to worry, apparently there's a long queue of folk willing to do a better job for ordinary wages.

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I agree about Goodwins knighthood. He took a huge gamble to make his company into the worlds largest. It nearly came off.

Only problem was that not only was it not his money to gamble but he didn't even have enough of other people money anyway.

As has been said it doesn't do much to put matters right.

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I agree about Goodwins knighthood. He took a huge gamble to make his company into the worlds largest. It nearly came off.

Only problem was that not only was it not his money to gamble but he didn't even have enough of other people money anyway.

As has been said it doesn't do much to put matters right.

And that is something that has been forgoten, if it had all worked out he would have been seen as a true visionary by the goverment and the city. He made a huge error of timing that is all, others have done the same but the consequences were on a scale that no one could have predicted.

As for his knighthood, it is the fact that we have once again succumed to the "trial by media" to appease the masses that I don't like. I would be happy if everyone who has had an honour bestowed, like Lord Jeffrey Archer, were also stripped of their honours because they are convicted criminals, but that is not popular with the press so it will not happen.

If we are not careful we will end up with a situation where no one takes a risk in business for fear of failure. Some of the biggest companies have been built by those who failed, Richard Branson came close to finacial ruin before but bounced back, because he was prepared to take risk with his and others money.

As for giving staff a bonus, there is never a fair bonus system, if you reward people extra for doing their jobs well you will never get a fair system as there are too many variables to deal with. even when companies pay out a bonus to all on company sucess usually they are proportinate to your salary.

We need as a country strong companies, who generate jobs and wealth and we need a climate they can work in. If you are an employer now you have so many hoops to jump through in this country, and when companies see they way that the banking industry is now being treated why would they want to come here?

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