Markets

Wall Street bonuses plunged 17% in 2018

Wall Street bonuses plunged 17% in 2018, according to data from the Office of the New York State Comptroller. The average bonus for New York City securities industry professionals fell from $US184,400 in 2017 to $US153,700 last year. The total bonus pool of $US27.5 billion was down 14% from the […]
Wall Street bonuses plunged 17% in 2018
Markets

US regulators are reviving efforts to place limits on Wall Street pay

Formulating new rules to limit Wall Street pay is back on regulators’ front burners, according to a new report from The Wall Street Journal published on Tuesday night. The US financial collapse and ensuing Great Recession began more than a decade ago, and that financial turmoil led to financial regulations […]
US regulators are reviving efforts to place limits on Wall Street pay
Markets

NAB is about to cut executive bonuses by up to 30%

The NAB is about to cut the short term bonuses of its senior executives, joining other major banks in reducing incentive payments following revelations in the financial services royal commission and falling share prices. The bank is reportedly looking at a 30% cut. Westpac earlier this week announced bonuses for […]
NAB is about to cut executive bonuses by up to 30%
Markets

Westpac executive bonuses have been cut by 25%

Bonuses to senior executives at Westpac are down by 25% on average. The bank has acknowledged shareholders have seen their holdings fall in value. CEO Brian Hartzer’s realised pay was $4,944,519 in 2018 compared to $5,456,844 the year before. Westpac cut by 25% its short term bonuses for its senior […]
Westpac executive bonuses have been cut by 25%
Tech

These 10 well-paying tech jobs are perfect for people without a tech background

You don’t necessarily need a tech background to find a well-paying job in Silicon Valley. Companies like Amazon and Google have roles in human resources, accounting, and more that could be filled by anyone with the right skills. Compensation monitoring site Comparably determined the most popular jobs for people without […]
These 10 well-paying tech jobs are perfect for people without a tech background
News

Walmart touts $1,000 cash bonus for employees — but there’s a catch

Walmart is paying out $US560 million in bonuses to 890,000 employees. The bonuses will hit employees’ paychecks this week. When announcing the bonuses in January, Walmart said employees would get up to $US1,000. Only employees with 20 or more years of Walmart employment will get the full $US1,000, however. Hundreds […]
Walmart touts $1,000 cash bonus for employees  —  but there’s a catch
Markets

Executives at Westpac have missed out again on long term bonuses

Senior executives at Westpac for the second year have missed out on getting shares as part of long term incentives plans. Chairman Lindsay Maxsted told the AGM that generally the board of directors was generally pleased with the performance of the management team. “The financial result was ahead of the […]
Executives at Westpac have missed out again on long term bonuses
Markets

The Commonwealth Bank Chair has apologised to shareholders

Catherine Livingstone, the chair of the Commonwealth Bank, today apologised to shareholders for the bank’s “deficient” oversight of anti-money laundering regulations. She was referring, at the bank’s AGM, to accusations the bank breached the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act over combined cash deposits of $624.7 million. The civil […]
The Commonwealth Bank Chair has apologised to shareholders
Markets

CBA execs just lost millions of dollars in bonuses

CEO Ian Narev and his senior management team have lost their short term bonuses over the money laundering scandal. Board directors will also have their fees reduced by 20%. These fees range from $874,195 for the chair and about $300,000 for a non executive director. Narev last year received received […]
CBA execs just lost millions of dollars in bonuses
Markets

Bank executives might be in line for bigger base pays

Senior executives at Australia’s big banks might see their base pay improve significantly in reaction to the federal government’s moves to restrict bonuses. The federal budget in May announced a series of measures to increase responsibility and accountability among the big banks, including deferring the payment of bonuses. Bank CEOs […]
Bank executives might be in line for bigger base pays
Markets

Christmas bonuses cancelled at the ANZ Bank

The Christmas bonus at the ANZ Bank, in the form of $1000 in shares for employees who’ve been there at least three years, has been cancelled. The shares normally arrive the first week in December but the bank decided against it this year after posting weak profits and cutting shareholder […]
Christmas bonuses cancelled at the ANZ Bank