Hizb ut-Tahrir Britain

Top Menu

  • About US
  • Join US
  • Videos
  • Infographics
  • Comment
  • Question and Answer
  • Watch us Live

Main Menu

  • Home
  • Viewpoint
  • Islamic Culture
  • Da’wah
  • Media
  • People
    • Sheikh Taqiuddin an-Nabahani (Founder)
    • Sheikh Abdul Qadeem Zallum (Successor)
    • Sheikh Ata Abu Rashta (Ameer)
    • Abdul Wahid
    • Abu Yusuf
    • Jamal Harwood
    • Taji Mustafa
  • Books
  • Youth
  • Covid-19
  • About US
  • Join US
  • Videos
  • Infographics
  • Comment
  • Question and Answer
  • Watch us Live

logo

Hizb ut-Tahrir Britain

  • Home
  • Viewpoint
    • America is the New Sick Man

      January 7, 2021
      0
    • Islam, Covid, Vaccination & Khilafah

      January 4, 2021
      0
    • Erdogan - Palestine Was Never a Red Line for You

      December 30, 2020
      0
    • The New European Inquisition

      December 8, 2020
      0
    • The Struggles of Living in France

      November 6, 2020
      0
    • Government Refuses to Provide Free Meals to Children

      October 28, 2020
      0
    • Palestine: The Betrayal of the Rulers

      October 5, 2020
      0
    • 10 Significant Facts About Palestine

      September 18, 2020
      0
    • The Khilafah Will Effectively Provide Security for Our Mothers and Daughters, When ...

      September 14, 2020
      0
  • Islamic Culture
    • The Dawah to Allah (swt)

      December 29, 2020
      0
    • Miracle of the Quran

      Q & A - Compilation of The Holy Quran During the Reign ...

      December 27, 2020
      0
    • Imam Bukhari: A Role Model for the ‘Ulema and Da’wah Carriers to ...

      November 17, 2020
      0
    • Rabi ul-Awwal’s Greatest Gift: The Mercy to All Humankind, Muhammad ﷺ

      October 25, 2020
      0
    • The Life of Bilal (RA)

      September 3, 2020
      0
    • The Greatness of the 10 days of Dhul-Hijjah

      July 25, 2020
      0
    • Surah Tawbah: Masjid Ad-Dirar and the Disease of Disunity

      May 22, 2020
      0
    • Taqwa and the Digital Footprint

      May 16, 2020
      0
    • Spirituality- Man’s Emotional Quest to Find God

      November 28, 2019
      0
  • Da’wah
    • Video: Establishing Islam’s Leadership on the Earth and Our Responsibility

      October 27, 2020
      0
    • Establishing Islam’s Leadership on the Earth and Our Responsibility

      October 27, 2020
      0
    • Islam is based on an Enlightened Thought and We Should Accept Nothing ...

      October 26, 2020
      0
    • Video : The Return of the Islamic World Order - Invitation to ...

      October 25, 2020
      0
    • Video : The Islamic Ruling System

      October 22, 2020
      0
    • The Khilafah System: Taking Care of the People

      October 19, 2020
      0
    • Secularism Has Failed Where Islam Will Succeed

      October 18, 2020
      0
    • Video : From Pandemic to BLM - Invitation to - Jaleel Abdul-Adil ...

      October 16, 2020
      0
    • From Pandemic to BLM: Humanity Desperately Seeking an Alternative

      October 12, 2020
      0
  • Media
  • People
    • Sheikh Taqiuddin an-Nabahani (Founder)
    • Sheikh Abdul Qadeem Zallum (Successor)
    • Sheikh Ata Abu Rashta (Ameer)
    • Abdul Wahid
    • Abu Yusuf
    • Jamal Harwood
    • Taji Mustafa
  • Books
  • Youth
  • Covid-19
News Watch
Home›News Watch›Historic crisis – but bankers expect rising bonuses

Historic crisis – but bankers expect rising bonuses

By Press Editor
October 11, 2011
1151
0
Share:

Bankers believe they can look forward to rising bonus payouts despite Mervyn King’s warning that we face possibly the most serious financial crisis ever

The onset of what has been described by the Bank of England governor Sir Mervyn King as “the most serious financial crisis” in history has failed to dent expectations for bonuses in the City. Nine out of 10 finance professionals expect to receive an annual handout again this year.

The downturn in banking that has forced Deutsche Bank to issue a profit warning and other banks to alter their business plans is expected to be underlined by US firms in the coming days, when JP Morgan and Goldman Sachs report results for the third quarter.

Goldman may report only its second quarterly loss since it ended its partnership structure a decade ago, according to some analysts. The CBI’s barometer of confidence among financial firms showed this month that sentiment had worsened for the first time since March 2009.

Even so, expectations for bonuses remain among the staff surveyed by City jobs group eFinancialCareers.

James Bennett, a managing director of the group, said: “External observers may be shocked by the confidence being expressed by bankers ahead of the bonus season. However, the pay-for-performance culture is very much ingrained in the financial psyche, and even in times of market turmoil, financial institutions need to take care of their best talent in order to retain them.”

Anger over how bonuses can continue to be paid when banks have made losses has overshadowed the banking industry since the 2008 crisis, when banks such as the Royal Bank of Scotland, which had to be rescued from collapse by the taxpayer, still paid out bonuses – albeit no longer in cash.

As the Bank of England announced plans to pump another £75bn into the financial markets last week, King warned: “There is not enough money. That may seem unfamiliar to people. But that’s because this is the most serious financial crisis at least since the 1930s, if not ever.”

The eFinancialCareers survey said that of the 89% of the finance professionals it questioned who were expecting bonuses, nearly half were anticipating bonuses higher than last year. Just three out of 10 expected a decrease, while a quarter thought they were in line for the same amount as last year.

They cited “personal performance” as the most likely reason for their bonus expectations, followed by a change of employment or the performance of their company.

The company said: “The bullish expectations hide a downward trend compared to last year’s survey. At that time, among those who expected a bonus 62% were expecting an increase on the previous year, and only 12% expected a decrease.”

Guardian

Previous Article

‘Don’t accuse London universities of being hotbeds ...

Next Article

Who’s telling the truth: President Ali Saleh ...

0
Shares
  • 0
  • +
  • 0

Related articles More from author

  • News Watch

    Syrian protests and state violence expected to escalate during Ramadan

    August 1, 2011
    By Editor
  • News Watch

    Bahrain uses UK-supplied weapons in protest crackdown

    February 18, 2011
    By Editor
  • News Watch

    Tower Hamlets mayor Lutfur Rahman found guilty of election corruption and barred from office

    May 2, 2015
    By Editor
  • News Watch

    Number of rough sleepers in England rises by a fifth due to cuts

    February 24, 2012
    By Press Editor
  • News Watch

    US turned over captives to Iraqi torture squads

    October 25, 2010
    By Press Editor
  • News Watch

    With its deadly drones, the US is fighting a coward’s war

    January 31, 2012
    By Press Editor

Leave a reply Cancel reply

Podcast

Latest Posts

Viewpoint

America is the New Sick Man

The scenes of mobs occupying the US senate and protestors demanding the US electoral result be overturned are extraordinary in America’s history. Many across the world watched in shock as ...
  • Islam, Covid, Vaccination & Khilafah

    By Editor
    January 4, 2021
  • Erdogan – Palestine Was Never a Red Line for You

    By Editor
    December 30, 2020
  • The Dawah to Allah (swt)

    By Editor
    December 29, 2020
  • Miracle of the Quran

    Q & A – Compilation of The Holy Quran During the Reign of Abu Bakr Al-Siddiq (r.a)

    By Editor
    December 27, 2020
  • The New European Inquisition

    By Editor
    December 8, 2020
  • The Repercussions of the US Presidential Election

    By Editor
    November 25, 2020
  • Imam Bukhari: A Role Model for the ‘Ulema and Da’wah Carriers to Follow

    By Editor
    November 17, 2020
  • 3.5K+
    Subscribers
  • Likes
  • 20.4K+
    Followers
  • Press Centre