Nonprofit health insurer Blue Shield of California increased its executive compensation by 64 percent in 2012, according to a report.» Read More
As the finance industry currently stands, no one sails on unaffected. For those laid off during the crisis, experiences and perspectives vary. Vault.com spoke to several people who are coping with layoffs firsthand, and got their own take on how they are moving forward.
When searching for a new job, especially in finance, it’s essential to stay informed of current business news and trends, since they’re often the topics of interview questions and lunch meetings, and could affect where (and to whom) you’ll be sending your resume.
Did you hear the joke about the Wall Street CEO who made as much as $20 million for 18 days of work? Oh, sorry, it’s not a joke! Alan Fishman got a $7 million signing bonus for agreeing to take the helm of troubled Washington Mutual and he’s in line to get another $13 million in severance now that JPMorgan Chase will likely fire him after its acquisition of WaMu.
Just when it looked like the baby boomers would be riding off into the sunset, 401k's and other investments tucked securely in pockets to sustain them through retirement, along comes a "once in a century" financial meltdown and jeopardizes an entire generation's post-working life prosperity.
Irrespective of the bailout’s provisions, given the slow deal market, bankers throughout the industry will certainly receive much lighter bonuses this year versus last. And with the market expected to remain dry through 2009, bonuses next year won’t look much better.
Warren Buffett makes a surprise $5 billion endorsement to Goldman Sachs spacer, while Treasury Secretary Paulson agreed that a proposed $700 billion financial bailout be modified to put some limits on executive pay. Following are today's top videos:
You've been promoted above your peers—and ex-drinking buddies. How do you deal with the inevitable resistance and get them to fall in line behind you?
Everyone and their mother’s favorite industry observer are calling Morgan Stanley and Goldman Sachs’ status switch to holding companies the end of the large independent investment bank as we know it.
We have not seen the complete fallout from the market crisis yet. There will, no doubt, be more bank failures, consolidations and layoffs. This is a time to reflect, take inventory and prepare for the unknown.
In the funny business of bailing out Wall Street, Peter Morici--a professor of international business at the University of Maryland--insists one of the biggest problems in the current situation is the one thing he claims no one on CNBC wants to talk about: Wall Street salaries.
Much has been made in this Presidential campaign – and much more will be made – about the value of experience and who is qualified to lead. Often, relative youth is cited as a negative.
The fallout from the financial crisis plaguing Wall Street has become as nail-biting as a "Survivor" tribal council, and no one has experienced more drama than the staff of Lehman Brothers.
Earlier this week, in a CNBC exclusive interview, Wilbur Ross, CEO of WL Ross & Co. noted that in the current tumultuous financial environment, private equity firms and buyout specialists may reap a rather depressing benefit--the ability to scoop up distressed banks at rock-bottom prices.
Given the considerable crossover between the banks—especially in investment banking groups such as fixed income, equities and leveraged finance—and the $7 billion in cost savings that BofA has already identified, there will certainly be several thousand job cuts announced at both firms in the next few months.
Lehman Brothers’ bankruptcy means most of its 25,000 remaining employees will soon be out of job without a substantial severance package, leaving them with little breathing room with which to search for a new job.
Former AIG Chairman and Chief Executive Officer Hank Greenberg and other former executives at the insurance giant have reached a settlement with a shareholder group suing them, a source close to the matter has told CNBC.
American International Group said it paid a $47 million severance package to former Chief Executive Martin Sullivan.
The New York Supreme Court's Appellate Division Tuesday threw out a summary judgment decision that former New York Stock Exchange Chairman Richard Grasso must return a portion of his $187.5 million compensation package, and the New York attorney general's office says it will not appeal the decision.
The New York Court of Appeals upheld Wednesday a lower court ruling in a lawsuit involving the compensation paid to former New York Stock Exchange CEO Richard Grasso.
Top managers' perks will figure high on the agenda of tonight's meeting of euro zone ministers, the Eurogroup, in Brussels, with many European officials calling for curbs on bonuses and pay, papers reported on Tuesday.