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Re: What RBS pays its top people
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Originally Posted by Osem
I don't have a major issue with people who're successful earning good money and if these guys have done a good job in a division of RBS which has been highly profitable so be it - they're still earning far less than Wayne Rooney and all manner of footballers after all. If they're being rewarded despite their performance or are only being successful directly/indirectly because of HMG's bail out of the banks I'm far less comfortable about it all.
Like it or not, we need RBS to be profitable if the poor old taxpayer is to see a return on his/her sizeable investment. The last thing we want is to drive away any real talent from RBS to say Barclays or HSBC for example which will only mean they prosper at RBS's expense. If RBS becomes a lame duck or worse, it's the taxpayer who'll suffer.
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Successful?
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Well a bank that made a loss for the year of £1.67bn in 2010 (way better than the £35bn it lost in 2008 but still a loss) paid a total of £375m to 323 so-called "code" staff, or around £1.2m on average to each of them.
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From Robert Peston's blog.
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