The onus may no longer be on your bonus!
Four of Europe's major investment banks have reduced their bonus awards by a third since 2009, but deferred bonus payouts, which came in after the financial crisis, are on the wane, Barclays research analysts said in a note on Thursday.
Big banker bonuses were blamed for encouraging risk-taking and contributing to the 2008-2009 financial crisis. Under a European Union cap, bonuses cannot now exceed 100% of bankers' fixed salary, or twice that amount with shareholder approval.
But banks have topped up basic pay by awarding allowances to senior staff and also increased fixed salaries in some cases.
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