In its latest study, Emolument.com asked 2,530 bankers how they felt about the bonus they received in 2018. As usual, most of them are not happy with it…
Q2 hedge fund letters, conference, scoops etc
Are you happy with your 2018 bonus?
By Bank
- A silver lining? RBS employees are the happiest with their bonus (30%). After 10 years of losses and declining bonus pool, the bank has finally announced a profit in 20181… and it looks like employees received a fair share of it.
- Blasés French: The two French banks in these rankings are at the bottom of the table, with only 20% of satisfied employees for Societe Generale and 18% for BNP Paribas. Salaries and bonuses at these firms are traditionally lower than those offered by British or American banks, and their poor results in 2017’s third quarter2 might have increased the pay gap – and employees’ discontent.
- Secretive Goldman Sachs: Goldman Sachs’ culture of confidentiality seems to also apply to its bonus policy, as 49% of its employees confess that they do not know how they should feel about their bonus, the highest percentage among surveyed banks.
Thomas Drewry, Co-founder at Emolument.com, said: ‘Employees have limited tools to gauge the fairness of their bonuses, so they rely on the data that is within their reach : their company’s results and their previous bonus.The latter is usually what will determine whether an employee is satisfied with his bonus, as even a high number will feel bittersweet if it comes after an even higher one…’
