Are Banking Executives Untouchable? Clarkgym3 Comments

The following is a guest post about banking executives. If interested in submitting a guest post please read my guest post policy and then contact me.

Large bankers’ bonuses are usually associated with investment banking, where short term gains for high risk strategies are richly rewarded. However the bonus culture is endemic and flows down from the investment banking arm all the way to the clerks in the branch.

The sell, sell, sell culture of the banking industry was prevalent with PPI and the Guardian reported on a former NatWest employee who worked in a branch between 2002 and 2004. The employee reveals the intense pressure staff were under to sell PPI:

“Each quarter the branch had to achieve a certain amount of sales points. We earned these through selling mortgages, packaged accounts, credit cards, referrals to the financial planning manager, and PPI. Large loans with PPI secured the most points.

“Our quarterly bonus depended on how many points the branch as a whole achieved. I recall that hitting 120% of target meant our bonus would be in a higher paying threshold. Working in a branch didn’t pay very well, so the bonus really helped.

“In my role as a customer adviser I…

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