Swiss citizens voted on Sunday to impose some of the world's strictest controls on executive pay, forcing public companies to give shareholders a binding vote on compensation, result projections showed.
Martin Sorrell, CEO of WPP, tells CNBC, that the European banker bonus caps are a sign of the times.
Bankers' bonuses are to be capped at two times bankers' salaries and banks will be subject to a strict transparency regime, under a provisional EU deal that includes minimal concessions to cushion the pay crackdown. The Financial Times reports.
CNBC's Kate Kelly reports according to New York State Comptroller, Thomas DiNapoli, bonuses on Wall Street rose to a total of $20 billion in 2012.
John Van Reenen, director of Centre for Economic Performance at LSE, tells CNBC why he is in favor of rewards in the financial sector being based on long term success, not short term risk.
Davide Serra, founding and managing director at Algebris Investments, tells CNBC that banks must cut compensation in order to build capital.
Goldman Sachs awarded a dozen senior executives more than 700,000 restricted shares worth nearly $100 million as part of their 2012 bonus awards.
Joris Luyendijk, anthropologist and journalist at the Guardian discusses the social behavior of bankers and suggests that they are a form of 'tribe' and bonuses are the 'totem pole they dance around'.
The CEO at Random House makes the holidays a little "greener" this season, promising all employees a $5,000 bonus to celebrate a profitable year - thanks to publishing, "Fifty Shades of Grey," by E.L. James. CNBC's Bob Pisani and John Carney, weigh in.
If you’re considering giving your staff a gift or throwing a party this holiday season, here’s a tip.
U.S. companies may be paying out big dividends, but they’re holding the line with executive bonuses.
CNBC's Mary Thompson explains why many large firms are hesitant to pay employees an early bonus to avoid a bigger tax hit next year.
Wall Street employees, whose paychecks have often been cut in recent years, are likely to get a slight bump in their bonuses this year. The catch: the increase will come on top of one of the worst years for bank pay in recent memory.
Squawk Box Europe anchor, Steve Sedgwick and Otto Dichtl, managing director at Knight Capital Group debate whether the banking industry is going through a mass front office cull, that will never come back.
"In a normal year before 2008 you’d find 20 percent of the £2 million-plus market was ‘City money’," says a London real-estate agent.
The structure of compensation needs to change at the banks and paying bankers in fixed income securities may be one day to reduce risk, Sallie Krawcheck, former Bank of America Merrill Lynch, Global Wealth Management president, told CNBC’s “Squawk Box” on Friday.
"Without knowing why or how, we seem to have hatched our own oligarchs, and we stand aghast and bewildered at this flock of monstrous cuckoos," author Ferdinand Mount writes.
Shareholders in Barclays have forced the British bank to accept tougher bonus conditions and promise higher dividends, highlighting how the balance of power between investors and managers is shifting at some of the biggest global banks, the FT reports.
CNBC's Kate Kelly reports that Paulson & Company is slashing the key incentive level for employee bonuses.
The Lloyds Banking Group bankers forced to pay back some of their bonus payments are unlikely to be the last bankers made to repay remuneration, as claw-backs become increasingly popular.