₦airaland Forum

tkb417:
hehehe
some commercial bankers get pay o

his level na bruv. i don't expect a DM or something like that to be fooling around NL

Sagamite:
Doctors, lawyers, management consultants face this as well and they don't get paid as much despite adding more value.  

Doctors =  Work longer hours but don't directly add wealth to coffers of the nation
Lawyers = You can argue some actually make more money than the bankers (Tort, IB lawyers)
Management Consultants = by drafting strategies and attending pointless meetings?

tkb417:
hehe
maybe in UK

come check how we do our thingy in Las Gidi; forget the long hours bro
our offices are "padded" and u can be rest assured ure home away from home

we love to work and get paid

offices here are madly pimped as well but i hope u know the kinda stress that i'm talking about are d ones that drive some bankers to doing hard drugs and booze

NobiGod:
I maybe off the tangent here, how u gonna be a rich man this way?

Do you know how much i earn?
PS. I don't work for Nigerian Government
What makes you think i ain't rich with what i'm earning at the moment? shior

Shell nigeria or Shell UK?

While we are still on the topic of sharing the risks involved, do you think the average man is prepared to share the burden of having to be at work more than 12 hrs a day sometimes 6days a week?
The constant HBP and enormous stress of having to always deliver?

Some of my friends have always asked me why i've never gone into IB industry and my answer to them as always been i'm very comfortable with earning far more than i work for. Just come and check how we roll in public sector

Sagamite:
In the markets, that was what happened in the credit crunch.

The bankers had made a profit/bonus and the investors were left with a chimera.

Wrong, it's a lot deeper than that.
What's the percentage of the bonus taking compared to the debts incurred by companies during the credit crunch? a guesstimate should give me in the region of less that 5%

Your LB collapsed because they invested heavily in complex financial instruments that was introduced during the greenspan era (bad loans from sub-prime mortgages) believing that it's a zero risk market risk as they will always be a market to churn toxic debts to.
Oil was at an all time high and the consumer confidence which generally underpins and inturn drive market was at an all time low hence creating a scenario where people preferred to save rather than spend.
the regular high street shops and small business not having customers, they not being able to service their respective loans, assets being overvalued cos of the boom then having to be readjusted to balance the books.

hbabe:
@Jaybee
I think its hand wash

If that's the case then it's a def no.
I don't expect her to wash my either thank u very much. We both got hands so why don't we bloody use it.
She ain't me slave so def won't be marrying someone and expect her to hand wash my clothes

welcome on board
i expect first class insight oh so pls don't shy away. i trust u anyway

hand wash? heck no as i don't even use me hands to wash me own clothes
washing machine? most def cos wats the big deal in putting all the clothes in the washing machine?

Sagamite:
The part I am curious about is that is it reasonable to reward them "that much" for doing nothing really special and not sharing in the risk?

If a bank makes trillions from propriety trading, then they deserve every cent of bonus as it is full company risk.

I'd prefer if we see the level of performance (percentage profit return) of these individuals before we can define what is much.
I honestly think they do more than they are given credits for.
Do we know the impact of the enormous tax that they pay make on economy? I am sure you know why Alistair Darling or any other finance minister aren't bold enough to ban bonuses.

Do you know what ripple effect it will cause on UK's economy if these bankers are to move their dealings elsewhere? that enormous hole would have to be filled elsewhere which might lead to more PAYE for the average brits, sever cuts in public spending so as to have a balanced budget.

I think the issue of sharing the risk should never come into questioning simply because people aren't forced to invest. Investments are usually done at one's own risk.

I now understand where u r coming from.
But isn't that the main reason why the investment house are legally required to have readable and printable disclaimers (All investments involve different degrees of risk. You should be aware of your risk tolerance level and financial situations at all times) ?

People know that the value of their respective initial investments aren't guaranteed but still go for it cos of greed and thirst to get reach.

I'm sure you've read the article about Islamic banking (the pros and cons of it)?

Why do you think people will still want to invest in berkshire hathaway today despite the shares being the most expensive? They have a track record of having year on year increase on initial investment and i'm sure the analysts under warren's payroll will be getting bountiful bonuses yearly as well (maybe in the form of shares sha)

I am only ever sympathetic to people that have their live savings wiped away due to unauthorised investment actions on their behalf.
The case is similar to a lawyer getting paid regardless of winning or loosing a case.
By law you have the right to represent yourself but we generally do otherwise to allow the best in the business to represent us so as to have a favourable outcome

Sagamite:
My point of debate is that "is there 'skill' worth the pay"?

It is because a scientist is not trained to earn his or her emplyers percentage profit increase yearly.
If a scientist invents say a bug or a cure for something then they get catapulted into one of the world's richest.

These bankers work more hours than the norm, they have to stay current/informed 24/7 so as to get that investment edge.

why shouldn't they get rewarded for all the hard work that they do?

Ain't the Real money as you call it the bonus pot normally set aside by those big IB's. I want to believe that dat portion won't have any direct influence on any liquidity squeeze dat may or may not occur.
Companies don't have liquidity squeeze cos of the bonuses paid.

Bonuses are needed cos if you are a commodity trader, bought million barells of oil when it was still at $60 per barrel then sold on at peak price of $100 per barell dats a massive 67% increase on the initial investment which should warrant that trader about at least 10% of the profit earned.
do the maths

I had a similar discussion with candylips yesterday

https://www.nairaland.com/nigeria?topic=363994.msg5078800#msg5078800

IMO, i think they deserve the bonuses they get (on assumption that they meet their targets) simply because if i am making my company and her shareholders millions of profits every year due to ma shrewd investments then i expect to get a share of that bounty.
It's as simple as that.

authoritative ma a.s
like we don't have friends or fam dat work in these oil coys.

joker
like u have the liver. just let me catch u

the jobcentre will give her a temporary number that she can use until the real number arrives.
Buy her a return ticket to charing cross so she can go drop her CV's at all the retail outlets in west-end. I am sure she will get something cos they normally recruit temporary staffs for xmas busy period.

What abt bank account?

^^
baiting??

Thank you very very much Ibime
very insightful.
The problem IMO is a lot of Nigerians are very short sighted, don't know how to read between the lines and generally comfortable with following the Hear Say bandwagon.

Are you an analyst by any chance?

Is it safe to conclude dat all parties involved are satistified now that the coast is clear?
No more need for this thread cos y'all are just going back & forth on another worthless NL drama.

This thread should def be dumped in d recycle bin
Muki oya do your thing

why can't u just bloody google it

u guys should seriously kiss and make up now that all the tension av been duly released.
It's not the end of the world and both of ya r way bigger than any man.

brashy,
d dudes name na ode = fool, dele = came home

u know what to do with his posts

secretz omo to dun, ereke lewa
wo sho ri enu awon okunrin yen kan dun ni
mo so fun eh ti oba wa si odo mi gbogbon nkan ti oun fe laiye eh lo ma ri
oni tun she ishey kan kan mo laiye yi
ma fi oju ati gbogbo ara mi toju eh
ma tun fun eh ni ibeji nitori awon dokita confirm wipe genes mi strong gan
odo dun ni mo ma ma paro moto eh
ma tun fun eh ni nkan ti awon oyinbo man pe ni black amex card

chamo u don kolo
nice one teacher.
hope say i no go collect slap when i practice dat in naij

kilo shey omo kekere yi
shey ofe ki wooo eh ni

emi ko ki so oro ju
iwo sha wo inu aiye mi ko wa mo nkan ti won ma pe ni aiye
gbogbo nkan ti mo ni ni mo ma fi toju eh
owo ati kini yen lopo lopo

who dash monkey banana
abi u want to snatch secretz from me again?

na wa oh

OK lets dissect it:
You have the following;
fund managers: Supposing one of the funds they are managing have managed to return a whopping increase of +40% value for the year then you'd expect them to get the million pound bonuses we hear about. Remember that some of these funds might be pension fund linked to nuff companies hence it being a high stake job and in return massive returns.

Wealth managers: If i'm managing a millions for the royal family and the value of d investment keeps getting an enormous yearly percentage increase then surely i'd be expected to earn enormous bonuses.

Hedge Fund Managers: These guys are usually the best brain in the business cos they know when to play the economy.

Traders: Have u experienced the pressure of whatching stock prices move up and down. I have and during the time i was heavily trading i used to sleep 4hrs a day. I have to follow the asia market which opens at 12.01am, european market which opens at 8am, US markets which opens at 2.30pm

Analysts:

I hope you know all these bonuses are linked to performance targets and because the job being a high risk career will always require enormous incentives