Will be interesting to see if there is an exodus of the top staff now bonuses are capped - I bet there won't be many - any that fit this category will have gone already to an organization that they think has better incentives - I doubt there are that many vacancies in any event - perhaps this cap will have effect of making it less necessary for other banks to pay such large amounts either.Other thing is RBS has lost 48 billion over last few years perhaps it could do with losing some of these so called performers in any event.
Well we all know what happens to a bank when it becomes ethical. Ask the CO OP stakeholders. Personally I do not want the RBS to make a stance and take on the world. Would the last member of staff worth their salt please turn off the light as they are leaving. My ethics are taken care of by taxation and the eventual repayment of the Governments bail out. I did not become a shareholder to take on the world and play ethics.I am in here to make money, as much as possible, in the shortest possible time and if everybody else is honest enough to admit it so are they.
Sure, and all I say is that if all the UK based banks took the message and limited the level of bonuses then the whole World would follow. The 'commercial reality' of the past few years in banking has been illustrated by the number of excessively paid people who have 'earned' their rewards by cheating. (eg: Libor) Time for change. Re Rooney, I would be surprised if any club would find the level of transfer fee MU would ask and then find another £300K a week to pay him. For that kind of money they could attract two or even three very good players. But, again, I am not happy about that level of transfer fee or player wage.
They probably have gone too far. However the commercial reality is if the going rate is not paid you loose your best staff to a competitor You use Rooney as an example and without doubt to the average man on the street he is overpaid. Personally i would not pay him in hair restorer but other clubs would be happy to match his £300k per week. We live in a capitalist world where we are judged by our occupation and salary. All I say is RBS should pay the going rate in order to keep it's best staff. Its this lets all have a dig at bankers bonuses just to jump on the politicians bandwagon that grates me.
Its not just the banks, as jings100 says excessive rewards spread across many industries. Possibly the worst is the soccer business, the prime example being a chap called Rooney. There's no problem with rewarding people for good work, its just that the extent of the rewards has got out of hand.
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