Bankers Face Lower Or Zero Bonus Package

It is reported that many bankers in the US & Europe can expect lower or zero bonus this year due to the recent financial crisis. The bail out of many of these blue-chip financial institutions has led to government clamping down on high pay and huge bonus.

Best case scenario is the top 2 - 3% performers can expect flat or 30% lower bonus while the majority can expect 50 - 75% drop or even zero bonus.

Goldman Sachs, UBS, Deutsche Bank, Barclays has each announced that top Executives will not get any bonus this year. But looking at the tens of millions in bonus payout and the lucrative stock options given out the last few years, a couple of years of low or no bonus ain’t going to affect their wealth by much. But I think it’s only fair that the bankers forego their bonuses considering the fact taxpayers have all helped to bear the burden.

The question is would Asian banks follow suit?