The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
FOREIGN EXCHANGE

FX bonuses: Things have changed

the weeklyFiX is proud to announce it has managed to solve the fat-cat bankers’ bonus conundrum, at least for those traders who work in the European Union.

It takes opinions to make markets. The basic purpose of the weeklyFiX is to express an attitude, and this would be impossible if I didn’t receive feedback from market participants.


This week, an old, experienced and still successful mucker sent me his take on the changing nature of FX. Thanks to this, the weeklyFiX is proud to announce it has managed to solve the fat-cat bankers’ bonus conundrum, at least for those traders who work in the European Union. Says my old mucker:


The markets in general are at the start of what will prove to be structural change in their remuneration policies. As a result of this, it is inevitable that traders’ behaviours will change.

In the 1980’s, when I managed to gain entry to the dealing room of a UK clearing bank, it was nothing more than another salaried position. The salary was admittedly higher than those paid in other departments, but the concept of a bonus did not exist. It was something we’d heard existed in those new-fangled US investment banks, but we could only dream that we would one day be rewarded so well.

We weren’t that bothered about our relative poverty because we were essentially in a good-fun, nine-to-five job that allowed us to spend a couple of hours down the pub every lunchtime.





You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree