The bankers should not be paid any bonuses now or in the future.
In a single word ---- NO
I have worked at senior management levels and delivered results without bonuses. Bonus schemes direct your attention to focus on the areas for which they are paid in isolation creating poor overall performance in favour of self interest. Bonuses for overall job achievement should not be necessary. Profit related pay to performance must not be a short term fix for the individual. The banking bonus culture has become the fiscal equivalent of binge drinking leaving a mess and hassle for everyone else it is time to stop. Support the Prescott petition and say "Give up the Bonus, RBS"
the Cityof London /NY are little less than parasites
re Best People comment
THEY WERE OBVIOSLY NOT THE BEST PEOPLE
greedy selfish idiots
NO PAY OR BONUSES
SACK THE LOT
We paid billions in bonuses for the best staff that were faulty so maybe we should get our money back for goods that did'nt quite come up to the standard that was expected. Has anybody offered to return the bonuses?
When these people apply for jobs in the banks, they are fully aware of the salary being offered, end of story.
I spent all my life in the aviation industry, and on a daily basis signed off civil and military aircraft as fit and safe to fly, did I get a bonus ? what do you think.
It has I think been a matter of bankers greed plus no small measure of political ineptitude.
Could not agree more! Especially employees of the banks that have been bailed out by the taxpayer should count themselves lucky to still have a job - that's bonus enough! And the demand by the big bosses to be renumeated for their failure is beyond belief.
I am ENRAGED at the very idea that those who made the mess in the first place should be REWARDED at the expense of those whom they robbed.
The City of London is just making fools of us all ,---- "us" being the hard working,tax paying, savings aware general public of what once was a great country. FOR GOODNESS SAKE----there shouLd not need to be any debate/ poll/ questionaire or anything else----these people should be made to be accountable and the government should stand up----join together with both the Liberal Democrats and the Conservatives AND SORT THIS WHOLE TORRID MESS once and for all.
From a very worried/frightened hard working taxpayer.
Not in it current form.
Unfortunately reality is that bonus are an integral part of the financial services sector for good reasons. Of course, mis-aligned schemes create a thriving environment for bad practices and unmanageable risks while the individual still manages to turn in outstanding performance quarter after quarter and so qualifying for payout regardless of the long term performance of the organisation.
10-15yrs ago there was a lot of talk about value creation and holding bonuses in "trusts" whereby the funds get released to the individual over a period of time thus allowing the corporates to claw back funds from the trust if the value is not sustainable or doesn't deliver the "promise". The idea was that this would take the city culture away from short termism while still retaining exceptional talent.
The concept never got taken seriously because each institution was worried about being out-of-step within its peer group and therefore running the risk of haemorrhaging talent.
However, now that everyone's in the same "life boat" it's a perfect environment for a paradigm shift.
No way, the banking staff are paid a good wage and this is sufficient, after the disasters we have witnessed in the banking system they should hang their heads in shame.
Bonuses should only be paid for a job exceptionally well done.
Bankers have failed miserably and their greed has caused millions of people to suffer as a result.
No bonuses should be paid this year and the whole system of bonuses should be reviewed.
Waiters only receive tips (bonuses) if customers are fully satisfied. The same should apply to bankers.
A bonus is a reward for when someone has exceeded their expectation gone above there expected duties. Made their company and the shareholders lots of money.
I say no more
Definately No. The state they have got us all in.
What they earn is far too much when you think what pensioners get!
Bonus for screwing up the economy and performing badly??...Forget it !!
On the basis of the question (should bonuses be paid "this year") and assuming any reasonable performance standards, the answer must be no - and I can hardly see that retention of staff (the "yes" justification) will be an issue! Going forward there may well be a case for reintroduction of some form of bonus scheme which can, if sensibly applied, be highly motivational. What will be required is a complete review of both the level of bonus in relation to total pay and the criteria by which performance is judged.
I have no problem with bonuses paid by a company as part of a profit-share scheme. In fact it is important that companies do reward staff when business is good. However, bonus culture in the City has become so ingrained it no longer takes into consideration the economic situation. Banking has become ridiculously isolated from the realities facing the country as a whole. The Head of RBS claims bonuses need to be paid to keep key employees from leaving for jobs in other markets. This seems unlikely to me as the only place for them to go is the smaller less developed emerging markets that seem unlikely to entice the well heeled city boy. The clique of top bakers in the UK need the sharp wake-up call of a few of their number serving significant sentences in prison for major fraud.
NO! As for the banker who is being paid £60,000 (per MONTH!) to analyse his own mess ... words fail me!!
Bankers should definately not get any bonus, and the fact that they are still trying just shows they don't give a damn what the general public thinks. The guilty ones responsible should be replaced as soon as possible. These are bank robbers and their assets should be siezed to offset some of the public taxes. Don't expect this government to do anything, only talk, remember how they have been lining their own pockets.
I have no problem with bonuses being paid to bankers this year - many of whom are not responsible for the mess that we are in. A very small minority of individuals caused this crisis and they've probably already lost their job. Those still in a job have created wealth and have done what they were paid to do, so their contracts say they're entitled to a bonus review.
And for those of you football and rugby fans who sneer at that - I suggest you burn your football tops, tear up your season tickets and cancel your sky subscription - for the Ronaldo's, Ballacks and Beckhams of this world it's small change.
Definitely NO. Because of the mess we are now in financially I won't be getting a bonus, the company can't afford to pay them this year. Not their fault but the fault of the state of the country's finance.
Not only would I not pay them Bonus I think past Bonus should be retieved and I'd even be looking at jail sentences for some of them for reckless behaviour and theft.
I'll second that. Why should we yet again be the victims of gross incompetence from unqualified personnel.
They should be held liable and their assets should be ceased,in an attempt to recover something. Why should they and their offspring continue to live the high life. They created the problems, with the attitude "so what if it goes wrong, it doesn't impact on me or my family lifestle", I'LL NOT BE ACCOUNTABLE! They should go some way to attempt at least a token gesture. Additionally if they had even an ounce of common decency, it would be instinctive.
Under no circumstances should they be paid a bonus. A bonus should only be paid if you achive something. This lot have achieved nothing but misery for gthe rest of the population.
Three hundred years ago, there would have been heads stuck on pikes above London Bridge !!
The argument for people in the banking industry getting additional payments (referred to by the media as "Bonuses") is based on their contract of employment stating that they should. However, had it not been for the taxpayers' bail-out of the banking industry, there would not be enough money in the pot to pay their basic wages, let alone "bonuses". Those employees expecting a bonus payout want to think themselves lucky that they still have a job, on a slightly reduced remuneration, and forgo the "bonus". After all, there are many thousands already on reduced hours (and pay) and many, many thousands more out of work as a result of the mistakes of the banking industry.
It would be nice to be able to honour their contracts to the letter, but these are exceptional times and as a result these contracts should be re-written to avoid the hard earned taxpayers' bail out money being sqandered. Before we know it, they'll be back for more!
Mr Brown should follow the President of the USA.......................and no bonuses paid whatsoever until the money the Banks have 'borrowed' from us has been repaid. Secondly a capped maximum wage for the 'Big Cats'. Now thats bottle.......................!
Your quite right but thats our perogative, just woke up to find HBOS lost yet another 8 billion, oh well soon be bonus time, nevermind, there, there......................
Bonuses should not be paid full stop. People take on a job knowing what it entails and the salary paid. They should be made to be accountable to. If I kill or damage someone as a nurse I lose my job, NMC registration and am accountible to laws of the land.
The bankers who got us into this terrible mess should not receive any bonus and should be required to pay back bonuses received during the time that they acted so irresponsibly.
Definitely not, do others people get bonuses from sinking ships? I don't think so.
Well said. Like the majority of fair minded people I totally agree.
Is the Government afraid of these people? Talking about Tax, e are Bonuses taxable. If so,is it at 40%, the same rate as the
workers earning a mere £34801
No one in the banks either at board level, or below, should not receive any bonus. The public are the main share holders, so the so called legal contracts the bank staff have stating, they are entitled to bonuses, does not now exist because of new owners ie the public. Gordon brown and darling should now make this point clear, why is this government so afraid to take the apropriate action required. If they cant do it on our behalf, then they should go to the country and have a change of government. Then and only then can this country protect our investment in the banks.
Not Only Should Bonus's NOT be Paid but a review of the 'Honours System' should decide on the withdrawl of their honours such as knighthoods.
I seem to remember the Jockey Lester Piggott losing his O.B.E. following a conviction for Tax Irregularities [Small Beer Compared to this Crisis!]& nothing to do with his record as a sportsman.
However there is one rule for 'Them' & one for the rest of us.
[As witness the 'Enoblement' of Lord Archer and continued Enoblement of recent greedy peers involved in lobbying 'Sales of Services'.
Do not pay bonuses.The military fighting for the country do not get bonuses for the job they do.Most workers do not receive them either.I paid out for exrta shares in HBOS.Now I feel foolish and would like my money back but I do not expect to get it.I am going to spend the money I have left and let the state keep me.I am 71 now so I better get spending.
No way should they get bonuses, they should be grateful that they still have jobs! If I behaved as recklessly and irresponsibly and my company had to be baled out by the government I would expect to be down the jobcentre tomorrow. As for paying top whack for top brains, I think the figures speak for themselves, a group of monkeys on a typewriter could do better than these clowns.
Bonus No. We recive a bonus for doing well for the people we work for. Need I say more.
Absolutely not!! Far too many people are struggling financially. Perhaps the "Bonuses" should be paid back to the customers who bailed them out in the first place.
That Chillwinds guy`s comment above is rubbish. He has obviously worked for if not still working for some form of financial institution and therefore worried about his pay or bonus perhaps!? It just seems a little biased to me as he is the only person i can see who actually agrees with bonuses!! Does anyone know where he lives?!!!
Whats this got to do with football?? What a prize idiot!!
We are talking about the lives and future of millions of people like me, my partner and probably most of the people who have said NO to this poll and who may be worried about the future of their family and friends.
Say NO to all bonuses for bankers!! If they have made so much money, why is it that the people who`s money they have been playing with see nothing of it?? Give it back to the people.... without us they wouldnt have anything to invest or blow!
Chillwinds wants to wake up himself.... before he gets one of those football shirts rammed down his throat!
I totally agree with everything the Small Honest Man has said.
NO - we should not let banks pay any bonuses when it is their greed and total disregard for anything but making themselves wealthier, that has put our country in this terrible position in the first place.
I totally agree with the- one rule for 'them' & one for the rest of us! Be they Peers, MP's or Fat Cats etc.... I cannot understand why we Brits just sit back and let things slide like this? Unless it's the inevitable feeling that no one has the power to do anything about it and there are too many brick walls to come up against.
Absolutely not. There are lots of other people - in the medical profession, for example - who deserve bonuses far, far more, and never get them. I question the need for 'incentives' of this kind when there are hundreds of thousands or people who work as volunteers for charities who are incentivised not by the prospect of extra cash but by the satisfaction simply of making the world a better place and who work their hearts out for the cause concerned.
I think the Bankers are well paid and should not have to rely on a bonus. I am trying to survive on a small pension, the banks had the cheek to keep my money for five years in a bond and return without any bonus or interest.
bonus in any job should be the satisfaction of a job well done.Stop these
obsene bonus amounts.If the don,t like it,kick them out into the real world.
No, no, no! Not only should they not get bonuses they should all be held accountable for the losses. We all know that now is the "time of change" we are all feeling the credit crunsh, so lets stop paying stupidly high salaries to a chosen few, with promises of more money to come if they do their job properly!!. If they are not satisfied with the salary they receive then the answer is simple, go somewhere else.
As sure as night follows day promise a bonus and greed sets in, No No NO No.
no bankers should not get any bonuses. they failed so why should they get anything, in fact why has no one or company sued them yet.
MInd you thinking about it the bankers are no differant than our MP's all linning there own pockets, MP's with there money for second homes and expenses for everthing they can get they seem no differant than the bankers who are getting rewarded in bonus for failer and getting rich at our expence.
No way should they get bonuses-it is disgusting that they are paid such a high salary already and yet they expect huge bonuses-its an outrage. Get rid of Mr G Brown-the economy is suffering due to his incomplete lack of knowledge or regard to the UK population. Us mere standard uk white collared workers are losing our jobs and our livelihoods due to this banking mess. hang your heads in shame all you bankers-you know who you are.
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