Compensation culture

As bonus season rolls around again, it is clear this will not be a vintage year, with bankers in Asia still paying for their colleagues' missteps in New York and London.

As bonus season rolls around again, it is clear this will not be a vintage year for compensation. We’re talking Range Rovers rather than Ferraris.

Of course, some bankers will always do better than others and it is impossible to generalise too broadly when it comes to pay. But it is also hard to escape the overall trend.

This is especially true for bankers at international firms in Asia, who tend to get paid after their counterparts in the home market a lesson they learnt during the global financial crisis, when loss-making US bankers were protected and profitable Asian bankers got the dreaded doughnut...

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