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Posts Tagged ‘employees’

Stanley Bing, an often insightful contributor to Fortune Magazine, wrote a very interesting blog post last week in regards to banking compensation. He cites an article in the NY Times that said, “Roughly 90 cents out of every dollar that these banks earned in 2009 — and sometimes more — is going toward employee salaries, bonuses and benefits, according to company filings.”  The paper also notes that Citigroup “paid its employees so much in 2009 –$24.9 billion — that the company more than wiped out every penny of profit.”  There has been a lot of outrage over banking institutions who took TARP money paying such exorbitant salaries and bonuses…but is it really a bad thing? Read the rest of this entry »

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