June 11, 2010
A Preview of the Fed’s Report on Banker Pay
– Broc Romanek, CompensationStandards.com
On Wednesday, the NY Times ran an article – “Fed Finding Status Quo in Bank Pay” – which previews the upcoming report from the Federal Reserve about how the 28 largest financial companies are faring in tying pay to risk-taking. Based on the article, it appears that the Fed’s six-month review has not turned up much favorable information in this area so far. The Fed’s official report is not expected until sometime next year (I know they are short-staffed but this length of a wait is bordering on silly) – but its final set of pay guidelines should be out in a few weeks.