Bonus time

Everyone is talking about it. I mean, not just everyone in the bank, but everyone in the street. Its on BBC, its on the Metro, its on Evening Standard, the Times, the Daily Telegraph.

There is just so much vitriol and distrust against ALL people who work in the bank - innocent me included. "NO BONUS SHOULD BE PAID" they exclaim, "How on earth can they pay bonuses to bankers after receiving 20bln pounds in government aid?".

Indeed, if the government hasn't bailed us out, there's a chance I'd be jobless, let alone having a bonus.

But on the other hand, if the government didn't bail us out, maybe some other bank would have bought us (like Nomura buying parts of Lehman), and maybe we would have had guaranteed bonuses (again, drawing the Lehman example)...

I'm not really arguing for a bonus. I'm just upset at every layman hurling abuse at bankers in general, and applying pressure for us to get nothing. We all know the bulk of a banker's compensation is his bonus...

But I know, whatever I say will change nothing. The bank is owned by the government now. The government has to answer to the people. It will no longer care about running the bank like a commercial business, basing decisions on economic merit. The best talent will go without the accompanying compensation. The bank will, soon enough, become a lethargic, 9-5 government entity.

Even my bosses' boss said, "Either the salary moves to match the work, or the work moves to match the salary. There can't be a mismatch."

oh kay...

Time to plan my move. In the meantime, its gonna be 9 to 5 for me.