Bonuses and incentives

In a pandemic-scarred year, boards and compensation committees at 60 large and regional banks relied less on the normal performance metrics and more on qualitative criteria to determine bonus payments.

Coronavirus has accelerated trends in advisor compensation as firms move to an ensemble model and enhance their benefits packages.

It’s enough to frustrate star traders, leaving them vulnerable to poaching by hedge funds willing to pay more.

Eligible full-time employees will get $600 before taxes while part-timers receive $300.

Bank tellers, call-center employees and support staff are part of the roughly 70% of American workers who don’t have the ability to work from home.

The company's bank tellers, call-center workers and support staff are part of the roughly 70% of American workers who don’t have the ability to work from home.

The unit was awarded a bonus pool that’s 5%-10% larger than last year, reflecting increased profits and assets, people familiar with the matter say.

“It’s like nuclear fallout. The bomb didn’t drop on you but you were within five miles of it," said Alan Johnson, managing director of compensation consultant Johnson Associates.

The advisor switched firms only to see his new employer close shop 18 months later.

The wirehouse last made changes to its compensation plan in 2016.