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The bonus is a large part of a banker’s total income across all positions, but especially at the more senior levels, where a bonus can be several times the base investment banker salary. Why are bankers paid so much? The advocate would say they’re paid so much because the banks work on very important transactions that generate big fees. In.
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Variable bonus pay, on the other hand, is normally subject to claw back arrangements and can be withheld by the banks if a banker commits wrongdoing or performs badly. Osborne felt a bonus cap would lend itself to banks paying bankers higher fixed salaries, regardless of their performance levels.
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