Forum Topic

Are Barclays bonkers ?

Are investment bankers in general and Barclays in particular bonkers or am I getting even more gaga than I seem? Earlier on this week they announced that they're making umpteen thousand redundant, declared that they hadn't had a good year financially but then declared a massive bonus for some of their bankers. Two friends of ours in Barclays have been given redundancy options, yet some of their employees will receive in excess of £90k in bonuses!  Something doesn't stack-up. Bankers are a strange lot.

Gerry Tan ● 4429d2 Comments

Yes Chris, I realise the difference between those few Barclays Barclay who work in the 'investment' arm and those staff who work in the 'retail' side.  Perhaps I should have made this clearer.  I still think that Barclays as a whole are bonkers - £90,000 is only the bonus, that's quite apart from the annual salary. That's more than I used to earn per annum!  Bah - life's bonkers these days.

Gerry Tan ● 4429d

per usual the press have mixed up the two completely different businesses that Barclays operates. Retail banking continues to generate modest profits against a backdrop of customers doing more banking online and visiting branches less.The investment banking side continues to generate the "headline" profit figures and means the papers can focus on people getting a £90K bonus whereas the typical bonus for retail bank staff is more like £2-3K.

Chris Martin ● 4429d