Anglo Irish Bank managers stage protest

Who is the poor fellow with the black Porsche in the middle.

BTW Micmclo, I know a couple of those managers and they were very well paid for that they did and got nice big bonuses on top of their salaries each year. A far cry from what the average AIB/BOI manager gets. The fact that many 'invested' their bonuses and/or borrowed to buy Anglo shares is another story.
 
Towger said:
Who is the poor fellow with the black Porsche in the middle.

BTW Micmclo, I know a couple of those managers and they were very well paid for that they did and got nice big bonuses on top of their salaries each year. A far cry from what the average AIB/BOI manager gets. The fact that many 'invested' their bonuses and/or borrowed to buy Anglo shares is another story.
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I knew a large number of BOI managers who received huge bonuses , in some
equivalent to their annual salaries .

It was this system of incentivised bonuses that led to reckless risk taking and ultimately helped precipitate the banking crisis.
 
Deiseblue said:
I knew a large number of BOI managers who received huge bonuses , in some
equivalent to their annual salaries .

It was this system of incentivised bonuses that led to reckless risk taking and ultimately helped precipitate the banking crisis.
Click to expand...

Eh, aren't you the person who usually bangs on about contractual agreements and unions etc? I have worked in an Irish institution and signed a contract negotiated by a trade union that gave me a 100% performance related bonus if targets were met.
 
I worked for a financial institution where all the managers were brought in every month. A big screen showing the 10 top branches performance and the 10 worst performers for the previous month. Divide and conquer was the order of the day. When the bonuses were paid at the end of the year, the smug faces of those in the well positioned branches who couldn't help but get a big bonus said it all.
And the guy who brought in the performance schemes. Retired on big pension and spends half the year in Spain playing golf. (Not Anglo).
 
Sunny said:
Eh, aren't you the person who usually bangs on about contractual agreements and unions etc? I have worked in an Irish institution and signed a contract negotiated by a trade union that gave me a 100% performance related bonus if targets were met.
Click to expand...

"Bang on " - surely not !

The vast majority of managers in BOI are not on IBOA negotiated contracts indeed most managers are not IBOA members - such managers have signed contracts solely between themselves and their employer without union intervention , these managers were incentivised to agressively sell mortgages and New Ireland related policies & in the case of more specialised departments property portfolios .

Are you a manager or in a position where you encourage staff to pursue mortgages , credit card sales , pension products etc ?
 
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