Bonuses, Wall St, and Main St

Sometimes you can’t say it better than someone else. These are posts from an article in the NY Times Dealbook blog called On Bonuses, Banks face a Balancing Act. Please read the rest of them since they are a great cross section of how to view compensation awards.

  • The
    modus operandi of the Wall St. bonus system makes me want to puke. Off
    Wall St., most bonus level employees accept the fact that there will be
    bad years and definitely aren’t prone “bolting”. So many spoiled brats
    on Wall St.

    — Posted by Ellis Smythe

  • 2.

    Ellis,

    Until you have missed your son’s birthday party, canceled a family
    vacation, worked back-to-back-to-back consecutive weekends or been so
    preoccupied with work at dinner you can’t listen to what anyone is
    saying, shut your mouth.

    — Posted by Brendan

  • 3.

    The
    difference between Off Wall St. bonus employees and On Wall St., is
    that Wall Streeters have greener pastures to “bolt” to across the
    street. Thus, companies are willing to bend more to keep people from
    jumping ship or a shop a subway ride or two floors below.

    — Posted by John Galt

  • 4.

    Brendan, a bit too harsh if you consider many entrepreneurs can say the same things (both in the good times and the bad . . .).

    Although I think your sentiment is dead on, and too often missed by
    some posters on this board, that the bonus-level employees on Wall
    Street have a work ethic and a work culture that is more demanding than
    90% of the jobs in existence. Most people do not understand this, and
    in many instances are overcome with the “why do they get paid so much
    if [insert generic argument here]”

    The balance between keeping employees from bolting and a
    salary/bonus structure that rewards/punishes good/bad performance on
    Wall Street is one that hasn’t necessarily been perfected as of yet . .
    .

    — Posted by Derek

About benleeson
My name is Ben Leeson. I currently work for a large financial company in IT. I went to school at Marist College in Poughkeepsie, NY. I graduated with a B.S. in Business Administration concentrating in HR. Professor William Brown taught me and I enjoyed his classes; even acquiring an appreciation for just about all things HR. I didn’t pursue a job in that field after college but I’ve kept up with it. This blog will further my fascination with all things HR. I hope to grow my knowledge of the area through thoughtful writings and spirited feedback. I will attempt to have a fairly routine style so anyone reading can come to expect certain segments. Please excuse my incorrect grammar and occasional misspelling.

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