US bankers set for record pay and bonuses for second year

This year, the banking sector is facing unprecedented proportions of compensation and pay packages, even with the economy not fully recovered.  Those expansions in compensation levels are not always even consistent with those of revenues, and are even achievable with a declining profit. Sometimes banks will even let go employees so they can keep their bonuses high in order to maintain their top bankers. According to Charles Elson, the solution is to abandon the short-term thinking of the “revenue generation”, and to switch on to long-term thinking, which focuses on the interests of shareholders.

Charlotte De Baere

(guardian)