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PAY NEWSNomura said to change its mind about Lehman bonuses – Updated6 October 2008COMMENTSi heard top guys got millions in 2 yr pay package. Has the industry not learnt anything yet? Also, some junior guys were getting significant pay-pakacges.. 2x last years comp. this is very credible info Read all comments »Rumour has it that Nomura's suddenly having second thoughts about paying enormous two-year bonuses to the people it's poached from Lehman. According to one totally anonymous headhunter, the Japanese bank has reached a realisation that this isn't 2006 and has cut its two-year guaranteed packages to one year. "A few people are still getting two-year deals, but most of them have now been rescinded and taken down to one year," he says. He adds that a high proportion of Nomura's guarantees are for less than 100% of 2007's bonus: "They range from anything from 50% to 130%, with a significant proportion below 100%." Other headhunters are less certain that the latest move represents much of a change. "Nomura is still paying two-year guarantees to senior staff and there has been no indication that this will alter," says one.
COMMENTSanonym, Quantitative Analytics, Fri 03 Oct 08why don't you wait till the story is substantiated rather than rumouring, after all, you dont have to wait that long Add your comment »Sarah, Editor, eFinancialCareers, HR & Recruitment, Fri 03 Oct 08Experience suggests that if we wait until Monday morning, it may have appeared on the Sunday Times etc. in the interim. We'll firm up next week. In the meantime, the source is a reliable one, so this is likely to be true. Have a good weekend. Add your comment »2yearbonusformeplease, Commodities, Fri 03 Oct 08Have the Nomura Bonus Committee heard something then...surely not...I still think that it is important that they secure the services of their employees to stop them jumping ship to all those other employers knocking at the gate !! Add your comment »A Banker, Derivatives, Fri 03 Oct 08I think it is helpful to hear such information even if it is unsubstantiated. We can make up our own minds about the validity. Add your comment »outsider, FX & Money Markets, Sat 04 Oct 08really ? it's the best safeguard to retain ex-Lehman staff. read some news that quite a no not yet signed up with Nomura as of Friday despite 2-yr guarnateed package. Add your comment »Nippon, Equities, Sun 05 Oct 08The japanese these days are more financially conservative. They can't throw big guaranteed compensation packages to bankers when the revenue stream is not guaranteed. Add your comment »financially illiterate, Debt / Fixed Income, Mon 06 Oct 082yr guarantees only to top MBAs and Mscs that got us into the subprime mess Add your comment »anon, Sales & Marketing, Tue 07 Oct 08i heard top guys got millions in 2 yr pay package. Has the industry not learnt anything yet? Also, some junior guys were getting significant pay-pakacges.. 2x last years comp. this is very credible info Add your comment »CMCM, Student, Tue 07 Oct 08Other than the core, (ex) employees of Lehman, giving them two year 100% bonuses would be a terrible waste. The Japanese will be more conservative. Add your comment »banker, Capital Markets, Tue 07 Oct 08Only MDs have 2-yr guarantee package. Also other grades can have same terms as in Lehman Add your comment »
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