Posts tagged 'salary'

ECB chides Romania on bankers’ pay cut

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Jul 06 2010 03:31 | Comment |

The European Central Bank, which has championed fiscal austerity across the continent, has scolded Romania’s government for forcing a 25 per cent pay cut on employees of the country’s central bank, the FT reports. In a strongly-worded statement, the ECB on Monday warned that Romania’s actions violated EU treaties allowing monetary authorities to operate freely and without political interference. Read more

A welcome plunge in rankings for Wall Street’s finest

| May 27 2010 08:35 | Comment |

Bloomberg’s “Finance 50″ ranking of the best paid CEOs of America’s 50 top financial companies — and Wall Street’s finest would dearly love to be at the bottom. They may have got their wish, FT Alphaville writes. Read more

Lib Dems plan crackdown on City pay

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Apr 13 2010 03:56 | Comment |

Nick Clegg, Liberal Democrat leader, will unveil on Tuesday plans to crack down on banker excess by banning all bonuses at board level and stopping loss-making banks from paying discretionary bonuses, the FT reports. The pledge to “bring the bonus culture under control” comes as the three main parties compete to impress voters by taking the toughest stance on City pay. Read more

AIG ‘strongly objects’ to pay restrictions

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Apr 13 2010 03:47 | Comment |

Robert Benmosche received $2.7m in cash and shares for five months’ work at the helm of AIG in 2009, the insurer revealed on Monday in a filing that criticised the US government, its biggest shareholder, for keeping a lid on pay, the FT says. AIG’s comments underline the tension between its management and the government’s pay tsar, who has to vet the packages of its 100 best-paid employees. Read more

Reckitt Benckiser CEO pay at £92m

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Apr 08 2010 03:33 | Comment |

Bart Becht, the best-paid chief executive in the FTSE 100, walked away with £92m last year after a decade-long run of stellar stockmarket performance at Reckitt Benckiser delivered him big gains from share options. But at a time of widespread opprobrium for highly paid chief executives, large shareholders of the consumer products company he runs have not begrudged Mr Becht his pay-out, says the FT. Read more

Report on bank pay reveals G20 split

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Mar 31 2010 03:25 | Comment |

Seven months after the Group of 20 nations pledged to force banks to link pay to risk, a split is emerging between European and North American regulators, who have cracked down hard, and a group of developing nations — including Brazil, Mexico, Russia and India — moving far more slowly, a report card issued by the Financial Stability Board on Tuesday shows. Read more

Darling considers veto on bonuses

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Mar 25 2010 02:56 | Comment |

Alistair Darling is considoring the possibility of giving shareholders veto rights over bankers’ bonuses, Bloomberg News reports, citing a government official. The UK chancellor will consult on the proposal, which could give shareholders a seperate vote over pay in annual general meetings. The official said the plan would make it easier to oppose pay packages “deemed unreasonable”. Read more

New review of US bank bonuses

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Mar 23 2010 02:44 | Comment |

Ken Feinberg, the US pay czar, is launching a fresh review of bonuses paid by banks including Goldman Sachs and JPMorgan and other recipients of bail-out funds. Mr Feinberg will write on Tuesday to 419 companies that accepted money from the government’s troubled asset relief programme to enquire about 2008 bonuses, according to people familiar with his plans. He will seek information on pay for the top 25 earners at those companies. Read more

RBS outlines new reward scheme

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Mar 19 2010 03:03 | Comment |

Royal Bank of Scotland on Thursday unveiled a tougher reward scheme for senior executives built around a range of performance measures. The new incentive plan published in RBS’s annual report could pay as much as £4.9m ($7.5m) to CEO Stephen Hester. It is linked to a measure of the bank’s profits as well as its share price, and is therefore more sophisticated than the two previous pay schemes, which were based purely on shares hitting a certain level. Read more

How much are you worth?

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Dec 14 2009 09:52 | Comment |

Is it the £500,000 your bank, or otherwise reviled-financial institution, pays you each year?

Or the negative £3.5m you contribute to society? Read more

Bankers vs ballers, by Bove

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Sep 21 2009 08:57 | Comment |

Confirming what everyone in the UK — land of the obscenely paid footballer — already knew, veteran banking analyst Richard Bove has authored a piece of research illustrating that bankers do not make as much as those in professional sports.

The Rochdale Securities analyst compared the salaries of the top 15 individual players in (American) sports, the top 15 non-financial execs, and the top 15 in finance. The results are in the table on the left, click to enlarge. Read more

London bankers v New York bankers

FT Hedge Fund Correspondent

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| Apr 08 2009 15:41 | Comment |

Reports CNBC:

London bankers’ mighty pay has fallen from the highest level among global financial centers to the lowest, with Wall Street financiers grabbing the top spot, a poll showed on Sunday.  Read more

CEO compensation in America, datapoints du jour

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Apr 06 2009 11:30 | Comment |

From The Baseline Scenario, using data from an NYT article. Click to enlarge.

Click to enlarge - The Baseline Scenario: Two things that have nothing to do with each other Read more

Tempting fate

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Feb 25 2009 13:55 | Comment |

Dare we put up a bubble chart? Apparently we do. From Zero Hedge.

Zero Hedge - Writedowns, leverage and compensation

Related links:
The Merrill bubble – Zero Hedge
Salaries from a bygone era – FT Alphaville Read more

Lex versus Wolf

Paul Murphy is the founding editor of FT Alphaville.

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| Feb 09 2009 17:47 | Comment |

It’s a while since we’ve heard from The Epicurean Dealmaker.  Maybe he’s retired, hurt.

But this should fix that – a snap blog at FT.com to debate the vexed issue of bankers’ bonuses. Read more

What else pays as well as banking?

Izabella Kaminska joined FT Alphaville in October 2008. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP's internal magazine.

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| Jan 28 2009 12:23 | Comment |

In a bid to help out the cash-strapped mistresses of the universe referenced here we thought this list of alternative high-paying careers might be worth publishing (HT to eFinancialCareers who just sent out the memo in its latest subscriber update). As they put it:

Wondering what to do while you wait for investment banks to rise from the ashes? Courtesy of the UK Office of National Statistics, here are the mean salaries for the 20 best paying jobs for men working full time in the UK during 2008. Read more

Yes, bankers are overpaid and no, it will not last

FT Hedge Fund Correspondent

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| Jan 27 2009 12:21 | Comment |

The below graph comes from this authoritative study of financial service industry wages in the US by Thomas Philippon and Ariell Reshef, which has just been published as an NBER working paper.

(It’s the same study that the NYT’s Floyd Norris wrote about over the weekend.) Read more

IB salary data point of the day

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Jan 19 2009 10:27 | Comment |

Want to know what your (less discreet) investment banking peers are making in these troubled times?

Fashion meets Finance, the social service that aims to match attractive but relatively poor women with relatively unattractive but rich finance professionals correct gender imbalances between New York bar scenes, is holding their next event on January 22nd and attendees have RSVPd — with their salary details. Read more

Citi to Paulson: Application for xmas party

FT Hedge Fund Correspondent

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| Jan 05 2009 12:26 | Comment |

Read last week’s Pandit memo?

If you did, you just might have been curious to know the details of the new “approaches to executive compensation” that the US government has outlined “consistent with their objective as an investor in Citi”. Read more

Through the looking Glass(Door)

| Jun 12 2008 20:28 | Comment |

So, how much do you make? And what’s it really like working for (insert-name-here)?

Don’t worry, there’s no need to tell us, because now we can satisfy our voyeuristic urges do the research over at Glassdoor.com, a brand spanking new “career and workplace community where anyone can find and anonymously share real-time reviews, ratings and salary details about specific jobs for specific employers — for free.” Read more