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Bank bonuses?

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And it's even worse if the person who spends their entire day dreaming up new ways of doing the absolute minimum work they can get away with without actually breaching their contract is an investment banker who then gets ?500,000 bonus at the end of the year. :roll::roll:

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I have, regularly, received bonuses for my contribution in the workplace over and above what is reflected in my union regulated, collective pay bargaining based, basic salary.

 

Others I work with who have done no more than just put in the hours while achieving next to nothing, haven't.

 

I demonstrably do more work than them, I deserve to be paid more.

 

My employer can't increase just my basic salary alone - because of all this "fair days pay" and "rate for the job" nonsense - so I'm rewarded through PRP, first choice of overtime opportunities, and one off bonuses. Such payments DO form part of the calculation to determine my Average Hourly Rate for the purposes of holiday pay etc.

 

The issue of whether or not such payments are pensionable is only relevent in final salary scheme situations, and in the private sector (AKA the real world) there's VERY few of those left.

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Performance Related Pay.

 

Agreed performance criteria at the start of the year, measurement against them throughout the year, and reward for over achievement either quarterly or annually.

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Smoke and mirrors pay schemes, designed to pay more for folk doing the job they should be doing in the first place. As for the inability of Managers to sack "shirkers"; that's due to the Managers not knowing the requisite procedures for monitoring and appraising staff, and the confidence in their bosses to back them up in a diciplinary scenario - where "the shirker" and his Union probably do have a better knowledge of "the rules" than the Manager. But back to the obscene bonuses received by "Bankers"; these are being paid out irrespective of the state of the Companies, and their incentive to "take risks" actually encouraged the losses in toxic debt that have brought about their downfall. SO, given that the Banks FAILED, how are any of these spivs worth a bonus in any event - they're lucky not to have been hanged from the nearest lamp post, assuming there are any lamp posts in Canary Wharf. :twisted:

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I demonstrably do more work than them, I deserve to be paid more.

 

Sounds like Wayne Rooney. :roll:

 

Rooney is better at his job (kicking a ball) than a non-league footballer, and does more work (scoring goals) - so he DOES deserve higher earnings. Whether or not he deserves the full level of his pay is another question.

 

Pay should always be linked to a persons productivity and contribution to their business. Anything else is just paying people for turning up.

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and just what constitutes "productivity"? - Most Managers I came across, introduced all sorts of gimmicks, changed offices around (at great expense), in other words - a facade of bulls**t, to get them noticed ready for their next promotion. Within 2 years they'd move on to their next job, leaving a mess to be cleaned up by the folk "who just turned up for work"! :wink:

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and just what constitutes "productivity"?

 

Anyone who can't define productivity within their own job doesn't deserve to be in the job in the first place!

 

You're either sat at your desk doing something useful to the business, and doing it in an efficient manner, or like these council workers -

 

http://www.dailymail.co.uk/news/article-1341245/Council-staff-hard-work--Facebook-How-employees-use-site-other.html

 

you're not.

 

It is after all a fairly basic concept

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That certainly applied in the police service obs, although they were called superintendents in that case.

 

Happy days

 

Also applied at ICI when some crackpot acedemic engineer fresh from Uni. would come on site and try to reinvent the wheel, no matter how many times we told them it had been tried before they would persist with the same time wasting and costly, negative results. :roll:

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they would persist with the same time wasting and costly, negative results.

 

Isn't that how most research ends up.

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You don't work for a bank do you inky :?::wink:

 

No, but I work in an industry where bonuses for the most productive workers are an important part of overall renumeration packages.

 

I know how I'd feel if I were to be told that the performance bonus I'd worked my backside off all year to qualify for - and succeeded - wasn't going to be paid just because a part of the business I have no influence over had got itself into trouble.

 

As I've said, if a bonus scheme has resulted in what appear to be un-just or un-deserved payments then that's the responsibility of the senior management team or board of directors who implemented the scheme in the first place. You can't penalise individual staff members for working towards goals they were given by their bosses.

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We're talking industry obs, not the fire brigade.

 

Nothing wrong with incentives, IF they are earned. A good company will have incentives. But they shouldn't reward failure.

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Industry? I remember my Dad getting a job in a local factory (having never worked in industry before): they were on a "bonus scheme". The first week nearly killed him as he struggled to keep up with his target output - then, he got into it and was beating everyone else on the line, and finishing by 3pm, then had to hang around for 2 hours doing nothing, having earned his bonus. :roll:

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I know how I'd feel if I were to be told that the performance bonus I'd worked my backside off all year to qualify for - and succeeded - wasn't going to be paid

 

Inky, you have totally strayed off topic. No one is interested if you have worked your backside off all year or if certain council workers are working hard enough.

 

The post was about bank bonuses and those that are being paid to the same people who screwed the financial industry up in the first place, and which ever way you look at it they don't deserve it. :roll:

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No, the topic was about legitimately earned bonuses being witheld from ALL bank workers - regardless of their role within the business, and whether or not they had any part in the problems the banks have experienced.

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