This is what happens when the public complains about bonuses

UBS Raises Wages UBS has increased the salaries of some investment bankers to guard against staff poaching by competitors, Switzerland’s largest bank said on Sunday. “There have been off-cycle salary increases at UBS Investment Bank to retain employees in critical positions,” a UBS spokesman, Andreas Kern, told Reuters, adding it was usual to adjust compensation to the market environment. The news follows comments by the bank’s chairman, Kaspar Villiger, that UBS was losing crucial staff members in important areas to competitors. “This has reached such an extent in the United States that it’s making us think. We’re also losing people to the competition in Switzerland but not to such a dramatic extent,” the chairman of the world’s largest wealth management in terms of assets said in an interview with Switzerland’s Berner Zeitung. On Sunday, the Swiss paper Sonntag reported that hundreds of UBS managing directors at the investment bank, with salaries of around 270,000 Swiss francs ($243,200) on average, were receiving 50 percent higher wages to compensate for the loss of usual bonuses.

Peanuts compared to what they used to get as bonuses

So, when are we going to see an post about “This is what happen when public complains about salary”?