taxman Posted January 27, 2012 Share Posted January 27, 2012 On top of his £1.2 million basic of course. BBC's business editor says he was reliably told that if the bonus was vetoed the RBS board would have quit. Way to blackmail the country! I wonder what would happen if their bluff was ever called. David Fleming, the Unite union national officer, said: "How can a Royal Bank of Scotland senior banker who is responsible for sacking over 21,000 workers be rewarded in this way?", while the TUC described it as "utterly unacceptable". As I understand RBS failed to meet its target of business loans and it's share price has fallen. Job well done then eh? Link to comment Share on other sites More sharing options...
PeteMorris Posted January 27, 2012 Share Posted January 27, 2012 I fail to see how someone earning 1.2 million a year needs a bonus anyway!...Is it not bonus enough being paid £3,287.67 a DAY? Link to comment Share on other sites More sharing options...
MrMoran Posted January 27, 2012 Share Posted January 27, 2012 Perks for the boys!! Link to comment Share on other sites More sharing options...
wobblygob Posted January 27, 2012 Share Posted January 27, 2012 Jealousy is a very negative emotion. This isn't news, the top bosses of big companies have always received big bonuses. People further down the company also get bonuses as well proportionate to their salary. Publicising stories like this just stirs up unrest and doesn't help anyone. Link to comment Share on other sites More sharing options...
willman Posted January 27, 2012 Share Posted January 27, 2012 RBS needed some way to dispose of my bank charges for this year. Obviously someone else is now benefitting from my misfortune. Link to comment Share on other sites More sharing options...
Frazer1974 Posted January 27, 2012 Share Posted January 27, 2012 It's not the fault of this man, or of RBS. The whole world is based on the top men being paid big money to attract the top performers. If you want a top performing guy then you have to pay the market rate (pay plus bonus), otherwise he'll just go to another firm. If he's done a good job in starting to turn round the business and has done everything required of him to earn the bonus, then good luck to him. Let's imagine that we gave the job of Chief Exec of RBS to some cheap middle-manager, who would only cost perhaps £250,000. He's probably going to do an average job of it, and the RBS would not have turned the corner in the same way and would give the taxpayer little chance of a return on their investment. Personally, I would rather they paid enough to get a good man in the job who knew what he was doing, and have a RBS that had half a chance of being profitable and repaying some of the public investment. Link to comment Share on other sites More sharing options...
LeMaquis Posted January 27, 2012 Share Posted January 27, 2012 I fail to see how someone earning 1.2 million a year needs a bonus anyway!...Is it not bonus enough being paid £32,876.71 a DAY? I'm not defending the bonus but if you're working out the daily rate by dividing 1.2 million by 365 the result is about 3,287. You're out by a factor of ten. Link to comment Share on other sites More sharing options...
Ms Macbeth Posted January 27, 2012 Share Posted January 27, 2012 It's not the fault of this man, or of RBS. The whole world is based on the top men being paid big money to attract the top performers. If you want a top performing guy then you have to pay the market rate (pay plus bonus), otherwise he'll just go to another firm. If he's done a good job in starting to turn round the business and has done everything required of him to earn the bonus, then good luck to him. Let's imagine that we gave the job of Chief Exec of RBS to some cheap middle-manager, who would only cost perhaps £250,000. He's probably going to do an average job of it, and the RBS would not have turned the corner in the same way and would give the taxpayer little chance of a return on their investment. Personally, I would rather they paid enough to get a good man in the job who knew what he was doing, and have a RBS that had half a chance of being profitable and repaying some of the public investment. What a person is paid isn't always the best indicator of what they are worth, or has Fred the Shred been forgotten so soon? Link to comment Share on other sites More sharing options...
Frazer1974 Posted January 27, 2012 Share Posted January 27, 2012 What a person is paid isn't always the best indicator of what they are worth, or has Fred the Shred been forgotten so soon? I would love to live in a more equitable world, but this is something that is not in the control of the RBS, or the UK Government. Money makes the world go round I'm afraid! Link to comment Share on other sites More sharing options...
flamingjimmy Posted January 27, 2012 Share Posted January 27, 2012 People further down the company also get bonuses as well proportionate to their salary. Not the same proportion though, have you ever received over 80% of your salary as a bonus? Link to comment Share on other sites More sharing options...
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