Recruiting
The bank has been a leader in bonus pay reform. In 2009, it paid out a large slug of bonuses in the form of shares in a $5 billion fund containing some of the bank's most toxic exposures. Dubbed an "eat your own cooking" compensation plan, the fund returned 79% in 2009, outperforming major stock indices, although it could still take a turn for the worse before employees are paid, and they can't cash out of the shares for at least five years. Along with other banks, it raised the base salaries of some employees. It also was the first major bank to sign up to the G-20 principles on bank pay by agreeing to pay more than 50% of bonuses in shares, subject to a claw back. In 2010, it cut U.K. managing-director bonuses 30% and the global bonus pool 5% to fund the U.K. bonus-windfall tax.
The company's careers page advises job candidates to practice with mock interviews and talk with past interviewees about the process. Runners may find a culture fit here. CEO Brady Dougan, who had come from the investment-banking side of the business, is a marathon enthusiast.