Everyone knows there's no 'F' in Bonus

Daniel Craig As James Bond

Here's a few bits of trivia on bonuses and their like.

The term 'doughnut' in respect of bonuses, of course, is the visual equivalent to an onomatopoeic word - a big fat zero. In the US, doughnuts (or donuts) are round, with a hole in the middle - just like the a 'zero'.

Zero bonuses paid to staff at French banks might properly be referred to as 'croissants' instead.

The term 'doughnut' is also used in broking. Having a 'doughnut' day means a zero day in terms of sales commission.

Two zero days are a 'James Bond' (007).

Three are known as a 'Magic' (after the 1975 UK hit single by Pilot Oh, Oh, Oh, It's Magic).

Four zero days are known as an 'Audi', after the car firm's logo.

And five are known as an 'Olympic', for obvious reasons.

Six is called 'the sack' - as you probably don't get to stay employed if you bag a sixth zero day running!

A £1m / $1m bonus is known as a 'bar' (probably a reference to 'gold bars'). A £250,000 / $250,000 bonus is a quarter bar, half a bar is £500,000 / $500,000, 10 bars is £10m / $10m and, if you are really coining it, you get a 'vault' (unless you work for a firm in Warsaw, where it's known as a 'pole vault'. Boom! Boom!).

Finally, at one stage a few years back, staff at HSBC (or a predessessor firm) allegedly referred to their end of year 'payouts' as 'bofnuses' - 'because we all knew that there was 'no 'f' in bonuses!'

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