One of the U.K.’s best-known fund managers has scrapped bonuses at his investment management firm, saying there is little correlation between bonuses and performance.
Bonuses in the Big Apple’s securities business tumbled 9 percent to $146,000 on average, New York’s comptroller found. Earnings fell, too.
CNBC's Mary Thompson reports that as corporate profits have fallen since 2014, Wall Street average bonuses have also dropped for the second year in a row.
Only 24% of companies offer nonperformance-based bonuses at the end of the year.
Year-end compensation for workers in the financial industry will fall up to 10 percent.
N Chandrasekaran, MD & CEO of Tata Consultancy Services, discusses the better-than-expected net profit for the last fiscal year and explains the motivation behind the one-time bonus for employees.
Compensation rose even as pretax profits at broker-dealer operations of NYSE member firms fell.
U.K. financial sector professionals will have received over £100 billion in bonuses since the beginning of the financial crisis by the end of March. But could hefty bonuses be a thing of the past?
Luke Hildyard, deputy director of the High Pay Centre, says that all companies should be made to reveal what their executives get paid.
Savvy investors plan to spend 2014 bonus checks, according to an E*Trade survey, but only some have really earned the right to do that.
Darren Hayward, head of employment at Nockolds, says there will be a surge in High Court claims because of disappointing Christmas bonuses.
Eamonn Butler, director of the Adam Smith Institute, says that despite recent scandals, most bankers should keep their bonuses and politicians shouldn't get involved with running banks.
A plurality of respondents to a finance industry poll said they expect bonuses to either decline or be non-existent this year.
Adam Zoia, Glocap Search CEO, discusses which types of hedge funds on the Street scored the biggest payouts and which ones fell flat.
The Bank of England's governor Mark Carney expressed concerns about capping bankers' bonuses, just hours after U.K. Prime Minister David Cameron said cash bonuses at the Royal Bank of Scotland would be limited to £2,000 ($3,284).
Bob Parker, senior advisor at Credit Suisse, comments on the U.K government's decision to cap RBS's cash bonus and explains why he thinks it's a "stupid idea."
Ilana Weinstein, IDW Group founder & CEO, takes a look at who is likely to score some hefty cash this holiday season, and compares compensation structures between banks and hedge funds.
Elie Mystal, Abovethelaw.com editor, and David Lat, AbovetheLaw.com founder & managing editor, discuss why law firms will be trimming bonuses this year.
Chris Skinner, chairman of the financial services club, tells CNBC that the UK won't be able to compete with Asia and the US if a bonus cap comes into law.
Bob McKee, chief economist at Independent Strategy, tells CNBC that only a few individuals would have their bonuses capped under a proposed EU measure and they would be predominantly in the UK.