X-posted at my class blog.
“Retention bonuses” would seem to be bonuses by any other name. Obviously, public and political scrutiny is at super high levels as we reel from the financial crisis.
This little nugget caught my eye about a joint venture between Citigroup and Morgan Stanley:
According to the newspaper [The WSJ], not all of the joint venture’s 20,000 brokers would get retention payments. It said a broker who brought in $1 million in revenue last year might expect to get $500,000 to $1 million, depending on how much he continues to produce.