If you want more cash in your bonus at the end of the year, stick to banks in North America and some parts of Asia.
A report from the Basel-based Financial Stability Board, an international agency that offers financial and regulatory policy recommendations, found that the U.S., Canada, Australia, Hong Kong and Japan are less stringent than the U.K. and the EU when it comes to putting international bonus and pay suggestions from the FSB into effect.
Germany, France, the U.K. and Singapore have put mandatory policies into place on the deferral of bonus pay and the portion of an incentive award that can be paid out in cash. The U.S., Canada and Hong Kong, among others, haven't been as quick to implement the recommendations. As a result, the FSB report finds that those differences "could disadvantage their banks in recruiting and retaining key personnel."
Deciding where to go for a job based on bonus potential can seem like an endless game of global musical chairs. But it's probably a safe assumption that some countries will comply with international suggestions more than others (see: U.S. rejection of the metric system).
Revolving Door (FINS)
Finance chief executive turnover increased slightly in September, according to a new report. Almost half the turnover came from CEOs planning to retire.
Compensation Down (WSJ)
Even if the U.S. is less likely to interfere with your bonus, award levels are expected to be down as much as 30% to 40% this season from last year.
Mortgage Status (MarketWatch)
The mortgage industry is expecting the lowest volume of mortgage originations in 2012 since 1997. Refinancing, too, is expected to drop. Such scant activity might lead to small demand for mortgage pr ofessionals.
Wall Street Pay (Financial News)
The gap between what an average Wall Streeter makes and the average private sector employee makes continues to widen. On average, Wall Streeters are taking home just above $350,000, compared to the just-over $50,000 private sector employees make.
Recruitment Policies (DealBook)
William Galvin, the secretary of the Commonwealth of Massachusetts, is looking into the relationship between Wall Street firms and hedge funds. Not when it comes to fees, but rather people: Banks are helping hedge funds find finance pr ofessionals and accountants.
Reputation Advice? (WSJ)
After surviving a bout of bad publicity during the financial crisis, AIG wants to charge others for the wisdom it's gained. It's offering coverage for companies who need to seek outside counsel for communications crises.
Easy for You to Say (Forbes)
In his Stanford commencement speech, Steve Jobs told students to do what they love. Is that actually sensible career advice?
Watch Yourself (Business Insider)
When trying to ingratiate yourself at a new firm, refrain from sending e-mails that say, "Looking to be a rock star at this place — feel free to send through your tips, but I think I've got this one covered." Also refrain from attaching a magazine article in which you're quoted as saying, "The stereotype of women going after bankers is hopefully true and, after this feature, will happen more often!"
Buzz Around the Office
Scaling the Walls of Zhonghau Castle (MailOnline)
She makes it look so easy.
List of the Day: Ways to Make Money During Your Job Search
1. Write off job-hunting expenses
2. File for unemployment benefits
3. Ask prospective employers to cover expenses
(Source: AOL Jobs)