This Bonus Season on Wall St., Many Face Nothing but Zeros

[Booster4324]

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Even though employees will receive roughly the same amount of money, the psychological blow of not getting a bonus is substantial, especially in a Wall Street culture that has long equated success and prestige with bonus size. So there are sure to be plenty of long faces on employees across the financial sector who have come to expect a bonus on top of their base pay. Wall Streeters typically find out what their bonuses will be in January, with the payout coming in February.

 

Umm what? Can someone explain this to me? Two things:

 

1) Not sure how I feel about the bonuses. I can almost see the point about the incentive based bit encouraging risk taking. At the same time, if you suck at the job, you shouldn't get a ton of money. This leads me to my second point.

 

2) Why are they going to be upset? Same money and possibly less pressure. Not sure on the pressure bit.

 

Thoughts from our financial gurus?

[GG]

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Umm what? Can someone explain this to me? Two things:

 

1) Not sure how I feel about the bonuses. I can almost see the point about the incentive based bit encouraging risk taking. At the same time, if you suck at the job, you shouldn't get a ton of money. This leads me to my second point.

 

2) Why are they going to be upset? Same money and possibly less pressure. Not sure on the pressure bit.

 

Thoughts from our financial gurus?

 

Cry me an f'ng river. No bonus on top of your $400K base? They'll just have to eat cake and drive an Acura instead of a Benz.

[Chef Jim]

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Umm what? Can someone explain this to me? Two things:

 

1) Not sure how I feel about the bonuses. I can almost see the point about the incentive based bit encouraging risk taking. At the same time, if you suck at the job, you shouldn't get a ton of money. This leads me to my second point.

 

2) Why are they going to be upset? Same money and possibly less pressure. Not sure on the pressure bit.

 

Thoughts from our financial gurus?

 

It's a very competative business and the size of the bonus demonstrates their success. Also they want to be more in control of their paycheck. No one it that biz wants to be told how much they're going to make that year. They want to go out and make their paycheck

and taking a risk to get that bonus feeds the adrenaline. These guys are a different breed.

[DC Tom]

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Umm what? Can someone explain this to me? Two things:

 

1) Not sure how I feel about the bonuses. I can almost see the point about the incentive based bit encouraging risk taking. At the same time, if you suck at the job, you shouldn't get a ton of money. This leads me to my second point.

 

2) Why are they going to be upset? Same money and possibly less pressure. Not sure on the pressure bit.

 

Thoughts from our financial gurus?

 

Read "Liar's Poker" by Michael Lewis. That explains it pretty well. Bottom line: bonuses are how they keep score.