http://www.thedailymash.co.uk/news/business/people-still-unsure-how-banks-work-201103083606/



James

On a serious note, a few people I have spoken too got all upset about the bonus, moaned about taxpayers owning the bank etc.
Shame they don't read the news properly.
The next BIG problem this country faces is peeing the banks off and making them move overseas. Looks like HSBC has started the process (or not).
Then where will the country make its money? I don't think our motorsport prowess is going to keep 60odd million people fed and watered, and we have precious few exports (apart from the financial system based in London)

sorry to have put a serious face on. FWIW the daily mash is very accurate

Say your contract said that if you do £1m worth of business this year, you can have a £100,000 bonus.

say you did your £1m worth of business and then they said oh you can have it as we didnt perform well 2 years ago. you would take them to court and win.

get over bank bonuses, they are a neccessary evil to keep britain as the financial powerhouse that it currently is. lose the big banks and we will be right royally in the poo and the cuts would be unprecedented.

edit to add that the article is awesome, one of the best articles ive read about bank bonuses



[Edited on 8/3/11 by MikeFellows]

apart from being a joke news site, like homer simpsons favourite paper, the daily growl which is a dog chew toy lol, its true, the managers of banks do have a very stressful job. we can't even begine to imagine what they have to do.

everyone forgets, and its the same with energy companies, shell, bp, british power etc, they are all companies, businesses, not charities. can't really say that some bank bosses really need £6m extra a year, but when i was unfortuante enough to work for RBS (dire place) your basic wages just got you through every month, the annual bonus was all you got for a bit of extra cash. your holiday money, or to buy you some things you wanted. i bought my wleder with mine.

(assumption - people pay taxes and don't find loop holes).

I've got absolutely ZERO issue with bonuses. If a company can afford to pay bonuses and people work hard enough to earn them ..... well done.

If you pay me a 1,000,000 bonus last time i checked 400,000 of that is heading into the gov. coffers as tax on your earnings. Another 20,000 or 30,000 is heading in via corporation National insurance and you're also going to pay 10k or 20k in personal national insurance.

So .......... you work hard, your company makes a profit, you get a million pound bonus. Reality is the gov gets 400k to 450k and you get 550 to 600k.

Now what do you do with that cash ........ bet you spend some of it. That means all the businesses you spend your cash in have .... err ......... turnover. Hopefully they make a profit and then pay their staff, perhaps even expand and take on more staff. They get paid and pay tax and ............ got the picture yet? EVERYONE BENEFITS.

If private business wants to pay bonuses LET THEM! Just make sure that everyone pays their tax and we'll all be in a BETTER PLACE!

arrrggghhhhhhhhhhhhhhhhhhh!

I think this is the first thread I have seen that everyone seems to agree.

yet the general consensus seems to be that bank bonuses are a bad thing, are the government putting pressure on the media agency's, to then put pressure on the banks I wonder.

Bank bonuses are just a bandwagon that the media has jumped on - they conveniently forget that the majority of people who get them are poorly paid clerks. Very few at the top get the big numbers, and they are almost always performance-related for everyone.

And, as said above, the people who receive the big bonuses pay tax & NI (if not, why aren't the government jumping on them!) and hopefully spend their hard-earned cash in the local economy.

after watching the film Inside Job (2010) it gives you a whole new in site to banking recommend watching

quote:

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Originally posted by David Jenkins
Bank bonuses are just a bandwagon that the media has jumped on - they conveniently forget that the majority of people who get them are poorly paid clerks. Very few at the top get the big numbers, and they are almost always performance-related for everyone.

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All the above.....no problem.I treat myself the same with my business and used to get treated likewise when I was employed.

Difference is and was thats when you achieved targets and made a profit.Nobody bails me out.Not sure I hold much respect for banks when they have caused so much damage.