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All information about Bonuses

Bonuses can exercise performance work and encourage employees to do their best. Bonuses are however in practice often linked to indicators that do not reflect the interests of the company as a whole, and certainly not the broader social interest. Furthermore, the link between the financial performance of the company and the amount of the bonus seems often looking for.
Short-term goals and excessive heights characterized the bonus culture at banks. This bonus culture is regarded as one of the main causes of the financial crisis and its consequences are felt worldwide.

The Fair Bank Guide believes that a good bonus policy inter alia, meets the following elements:

  • The bonus amounts must be extremely moderate, up to 10% of the fixed annual salary.
  • The bonus should be linked to long-term objectives.
  • The bonus must also be linked to sustainable, non-financial factors such as impact on society.
  • The bonus policy of banks should be transparent - even where banks make exceptions to their bonus policy decisions.
  • Bonuses must be recovered from defaults.
  • Furthermore, it is extremely important that moderate and based partly on the sustainable criteria bonuses not only apply to board members of banking groups, but also for all directors of subsidiaries and investment bankers (including employees on the trading floor).

Detailed information on how the Fair Bank Guide bonus policy bank checks can be found in Chapter 3 of the latest report.

 

 

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