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Bonuses On The Street

Despite the subprime mess and exit door shown to many CEOs, Goldman Sachs still did very well. Bear Stearns top management decided not to take any bonus this year, and will try instead to pay some decent bonus to keep performing staff from leaving - at least they are doing something right. Below are the projected year end bonuses payable within the first week of January 2008 as reported in WSJ. How was your bonus? (amounts in USD)

Lehman Brothers

2007: $334,245
2006: $332,246

Goldman Sachs

2007: $662,000
2006: $621,793

WHERE THE MONEY IS
Projected 2007 bonuses for top-tier global investment banks, on average:

HOT

Managing director, distressed investing -- Base: $200,000; bonus, $1.7 million to $2.2 million (up 10-15%)
Vice president, interest-rates trading -- Base: $100,000; bonus, $500,000 to $600,000 (up to 5-10%)
Managing director, crude-oil trader -- Base: $200,000; bonus, $5 million to $7 million (up 15-20%)
Managing director, equity capital markets, Brazil -- Base: $200,000; bonus, $1.2 million to $1.7 million (up 20-25%)

NOT

Managing director, mortgage-backed securities sales -- Base: $200,000; bonus, $1 million (down 33% to 67%)
Vice president, collateralized-debt-obligation sales -- Base: $200,000; bonus, $300,000 (down 50%)
Director, asset-backed securities trading -- Base: $150,000; bonus, $400,000 to $500,000 (down 30%)
Source: Options Group

Comments

Steven said…
Hi Dali,

Sapcres and its warrant now looking very attractive. The fundamentals of the company remain unchanged, I believe... though investor attention seems to have shifted to other counters.

Do you think it's worth accumulating sapcres to average down? Would appreciate your thoughts on this. Caveat emptor, of course.

Thanks!

Steven
Salvatore_Dali said…
its a good entry level for a 3-6 month view... u r in lower than seadrill so hard to be wrong... expect more contracts or jv with seadrill

plus if yr view is like mine, i.e. oil will stay btw 85-110 in 2008, the o&g will outperform in 2008
doraiddd said…
WHY IS IT THAT PEOPLE WHO ARE ASKED TO LEAVE THE FIRMS OR ARE FIRED FROM THEIR JOBS GET 100++MILLION DOLLAR SEVERANCE PACKAGES WHILE THE ONES WHO STAY AND SLOG THRU THE BAD TIMES GET PAID PEANUTS AND HAVE THEIR BONUSES REDUCED???

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