Reply to: London is now the worst place in the world to do business, say top bankers

[AtW]

Isn't a monthly bonus 8.33%? Or am I being pedantic?

I rounded it up.

HTH

[BrilloPad]

There was so-called 13-th salary in communism - basically a bonus at the end of the year equivalent to monthly salary, or 10%.

Isn't a monthly bonus 8.33%? Or am I being pedantic?

[darmstadt]

There was so-called 13-th salary in communism - basically a bonus at the end of the year equivalent to monthly salary, or 10%.

A heck of a lot of German companies do that as well, sometimes called Weihnachtsgeld

[AtW]

Thats the thought process that caused the mess we have in the civil service. Don't give people unnecessary jobs leave money in the economy to support 1 man bands when they find somthing useful to do...

So if I get you right you just want a handful of very highly paid people like yourself working in taxpayer subsidised banking industry so that you could continue to "spread money around" and provide others with jobs?

[bobspud]

Sounds good, in this case all bank should half wages and hire 50% more people - thus increasing employment to spread more money around and also cutting costs at the same time.

Thats the thought process that caused the mess we have in the civil service. Don't give people unnecessary jobs leave money in the economy to support 1 man bands when they find somthing useful to do...

[DodgyAgent]

There was so-called 13-th salary in communism - basically a bonus at the end of the year equivalent to monthly salary, or 10%.

You talk about communism but how many companies in UK you know that pay such massive bonuses on top of massive salaries? A commission driven sales often would have very basic salary to make the person work arse off to get sales and then commission of those sales with a possible big bonus IF sales exceed some very high level. That is pretty common but not every sales person gets bonus - in fact lots of them get fired for not hitting targets - that's capitalism where as what happens in banks is more like communism.

Quite. The problem we have in high pay is that there is too little competition. And the problem that we have in this country is that there is not enough capitalism. anything nowadays to do with Power and Energy and finance is divvied up between the large companies protected by expensive legislation.

"Dodgy Bank International" is waiting to unleash itself but is held back by restrictive legislation that seeks to protect custmers

[AtW]

Personally I'd rather have less money in the government coffers and more disposable income to be spread around my local tradesmen and thus the local pub.

Sounds good, in this case all bank should half wages and hire 50% more people - thus increasing employment to spread more money around and also cutting costs at the same time.

[AtW]

That is a communist ideal - you talk of 'just doing your job', whether it be sweeping the roads or running a mulri-billion, multi-national company.

There was so-called 13-th salary in communism - basically a bonus at the end of the year equivalent to monthly salary, or 10%.

You talk about communism but how many companies in UK you know that pay such massive bonuses on top of massive salaries? A commission driven sales often would have very basic salary to make the person work arse off to get sales and then commission of those sales with a possible big bonus IF sales exceed some very high level. That is pretty common but not every sales person gets bonus - in fact lots of them get fired for not hitting targets - that's capitalism where as what happens in banks is more like communism.

[bobspud]

I hear you.

You assume I'm bored with my work. (possibly by comparing what work means for you) Quite the opposite, I'm challenged constantly with puzzles whilst getting paid for it!

Find a job you love and you'll never work a day in your life.

No I also love my job. Infrastructure is just like being payed to play with Lego. I'm just saying that if it got swept away and a new life on the dole approached I wouldn't be reduced to daytime TV.

Anyhow, back on topic I can see why people might want to take the opportunity to work elsewhere in the world if the smelly, pitch fork wielding plebes don't get back in their rightful places. So what I hear you say? Well who pays for all the builders and tradesmen or clothing stores if the only people with disposable income go else where? Share holders are not going to give the postroom boys a raise just because public opinion turned against the chief exec taking £2m out the pay pots. The fact of the matter is that for most people their wages haven't really moved in the last 10 years. In 2001 I was on a £100k. now a decade on the average permie offering is stuck at 80-90k for the same roles.

In the last decades, the building trade went nuts. But that was because anyone with a house could just take more money out of it to piss it up the walls on £20k kitchens that only have £1k's worth of wood in them.

That money flooded round the viens of our economy. Now we are in a situation where for most of us, the large building jobs are only going to get get done when the money is in the bank. So what is bob the builder supposed to be doing while we all spend the next 10 years saving up for that new conservatory or atrium?

Personally I'd rather have less money in the government coffers and more disposable income to be spread around my local tradesmen and thus the local pub.

[Doggy Styles]

No it's not communist at all - I know it better than you since I had a short course in communism back in 80s in school.

If bankers were proper capitalism run company they would look to ensure labour costs ain't that massive - instead they get bonuses even when shares go down and banks declare massive losses. There is no other industry that does this tulip - only EPL football clubs that come anywhere close: massive salaries for footballers despite not winning cups.

You have changed the subject again AtW. This is why you lose credibility.

You said: ...or just being paid a shredload in cash for just doing their jobs.

That is a communist ideal - you talk of 'just doing your job', whether it be sweeping the roads or running a mulri-billion, multi-national company.

Outside of communism the latter would expect a shedload more cash than the former.

[BrilloPad]

You're not being very imaginative.

Guy I knew had it set perfectly

He spent his mornings growing and tending the veg in his council supplied garden. Then he would go and do a little fishing or rabit shooting then take his spoils down to the pub and trade it for beer/cider tokens.

Rinse and repeat...

Was it Jackie Onassis who said one should work 20 hours per week?

[Paddy]

No it's not communist at all - I know it better than you since I had a short course in communism back in 80s in school.

.

[AtW]

That is a really communist way of looking at it.

No it's not communist at all - I know it better than you since I had a short course in communism back in 80s in school.

If bankers were proper capitalism run company they would look to ensure labour costs ain't that massive - instead they get bonuses even when shares go down and banks declare massive losses. There is no other industry that does this tulip - only EPL football clubs that come anywhere close: massive salaries for footballers despite not winning cups.

[scooterscot]

You're not being very imaginative.

Guy I knew had it set perfectly

He spent his mornings growing and tending the veg in his council supplied garden. Then he would go and do a little fishing or rabit shooting then take his spoils down to the pub and trade it for beer/cider tokens.

Rinse and repeat...

I hear you.

You assume I'm bored with my work. (possibly by comparing what work means for you) Quite the opposite, I'm challenged constantly with puzzles whilst getting paid for it!

Find a job you love and you'll never work a day in your life.

[Paddy]

I am hoping that now that Huhne is out of the cabinet, his leftie influence will remain absent from government and we can get on with the job of encouraging enterprise and business in the UK.

There are no left, right or centre politicians anymore. They are merely in it for there own gain and politicians will lie and say anything to get votes from whatever the demographic population will accentuate. Once in power they become the corrupt lackeys of banks and carbon trust companies who will give them directorships once they finish being an MP.