Find all School-related info fast with the new School-Specific MBA Forum

It is currently 22 Sep 2014, 04:21

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

PE partner discusses 2008 bonuses at Merrill

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
Current Student
User avatar
Joined: 23 Jan 2009
Posts: 117
Schools: Fuqua
Followers: 2

Kudos [?]: 39 [0], given: 0

PE partner discusses 2008 bonuses at Merrill [#permalink] New post 27 Jan 2009, 08:54
NYT Article link:
http://www.nytimes.com/2009/01/27/opinion/27krasne.html

Quote:
MERRILL LYNCH lost $27 billion last year, and yet still managed to rush through $4 billion worth of year-end bonuses in the days before it was taken over by Bank of America.

...

Merrill Lynch is not the only irresponsible institution out there. Despite a year of record losses, despite all the taxpayer money being injected into our financial institutions, bonuses for 2008 were, in some cases, down less than 50 percent from those the previous year.

This is shocking, of course, but what’s been missed in these discussions is how completely the culture of executive compensation has permeated the financial industry. One need not even be an executive to receive a bonus far in excess of the yearly salary of people in most other professions.


Not that news that bonuses are down will be anything new to folks here, but his discussion of what this could mean for the new era of banking that's coming is instructive.
PE partner discusses 2008 bonuses at Merrill   [#permalink] 27 Jan 2009, 08:54
    Similar topics Author Replies Last post
Similar
Topics:
Signing Bonuses skaballet 11 31 Jul 2009, 10:22
3 IB & PE Compensation Report 2007-2008 nink 4 24 Feb 2009, 05:04
Is Merrill Lynch recruiting this year? Audio 17 13 Jan 2009, 04:55
Salaries & Bonuses Slashed BSchoolorBust 2 24 Jul 2008, 15:19
29 2008 Profiles w/ Admit/Dings Results - NO DISCUSSION! kryzak 130 10 Oct 2007, 12:30
Display posts from previous: Sort by

PE partner discusses 2008 bonuses at Merrill

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.