 (CNN) – Another week, another round of news that suggests it’s a bad time to be a banker. First came news Deutsche Bank became the first global bank to that could claw back payouts. Deutsche Bank's clawback rules allow it to take away from newly hired senior staff the un-vested equity bonuses earned at previous employers - if they were turned into Deutsche Bank shares. This is a significant tightening of bonus rules by Europe's largest lender, CNN’s Jim Boulden says. Pay consultants say the rule is unusual in the banking world and comes as European banks now hold employees accountable for questionable behavior. But the question remains: Will other banks follow? And will the new rules give Deutsche Bank trouble recruiting? As a result of these scandals, there seems to be a rising social stigma about working in the banking industry amid the Libor rate-rigging scandal and recent money-laundering investigations. Some recruiters are saying some investment banks are forced to raise starting salaries to attract top graduates because of "banker bashing. According to the Daily Mail, the starting salary in London is now upwards of $79,000 – a 5% increase. One headhunting firm says graduates are now thinking of "longer studies or professional services" rather than finance. As CNN’s Nina dos Santos points out, this wave comes a few years after Bob Diamond famously said “the era of banker bashing should be over” as the world recovered from the 2008-2009 financial crisis. But, of course, Diamond is now out of a job, having resigned in July as CEO of Barclays as a result of the bank’s role in the Libor scandal. Should graduates reconsider a career in banking? Have your say. Leave your comments below. |
  About Business 360
CNN International's business anchors and correspondents get to grips with the issues affecting world business, and they want your questions and feedback. Recent Posts
@cnni/business on Twitter Follow CNN for insight and analysis into
the world's business news.
My latest column for Gulf News m.gulfnews.com/business/so-mu…
CNN's tweet chat: Why Africa's a brighter light than the BRICs @HelenClarkUNDP @shaunrein @OECDeconomy @lemos_ronaldo sfy.co/hML0
Emirates the world's best airline - @EtihadAirways the best First Class for the 4th consecutive year in the #Skytrax awards.
Emirates named World’s Best Airline at the Skytrax awards in Paris. A word with the president in Paris o#Questst tonight.
updated 910 GMT, Jun 19
  |
 |
|
© 2011 Cable News Network. Turner Broadcasting System, Inc. All Rights Reserved.
I personally do not think this is going to be an issue in long term. The top graduates who want to make big money will still want to join the financial industry. People hesitate to join the banking biz because it is under the spotlight in the moment. After things (scandals) cool down and media starts to chase after other issues, most applications will emerge. Human beings tend to forget lessons which we should have learned.
" Should graduates reconsider a career in banking ?" is the wrong question Should crooked bankers continue stealing and not going to jail ? – is the proper question. Not holding employees accountable for questionable behavior is an outrage. Even a shoplifter can go to jail or a pickpocket. These guys pick BIG POCKETS BIG and need to go to JAIL.
Life must be so tough for a bankster.
Here's the problem I see: you stand to make a lot of money in banking. But job security is no better than any other industry – and if you get fired you will find few other companies willing to hire you. Either because your pay was too high or poor opinion of banking personnel. For a long-term career, seems most any other industry would be better.
Bankers are a joke and complete FRAUD and everyone knows now what they are: Just plain CRIMINAL & many Bankers will hang soon when the people have had enough of their deceit and arrogance– Mark my words !
I worked in banking for 5 years, resolving troubled assets in a risk containment capacity...
NEVER AGAIN!
GREED RULES!
bankers are essentially greed driven criminals that contribute nothing but destroy much... when are some of them going to jail...for example the merrill lynch criminal cartel ?
its good to be a banker, now a days banker had to work in lot of pressures. for a grauate it will be a good opportunity to learn a lot while having a lots of pressure.
What a complete FRAUD and FARCE Merkel, Hollande, the EU, ECB and Dragi are: The EU and all its criminal politicians who created this entire financial mess have gone "Scott-free" without any one of them being held accountable or found guilty of fraud, theft and incredible misdeeds!
Nothing will change in the EU wth its corrupt politicians and Bankers and they will continue stealing EU citizen’s money, making the People the only ones responsible. Why has the EU Commission never asked Greek Politicians about the 200 billion Euros they have looted from the people and EU funds they stole and sent offshore and to Swiss banks?
Because the Bankers & EU Commission is in on this game and absolutely corrupt… It is Pathetic... Time to tear the system down and start over... Stop voting for these horrible Criminal Politicians & jail the Bankers for financial fraud & get back citizens money!
Excellent post. I was checking continuously this blog and I'm impressed! Extremely helpful information specifically the last part :) I handle such information much. I was looking for this particular information for a very long time. Thank you and best of luck.
You are absolutely right. In it something is also to me this idea is pleasant, I completely ith you agree.
hpixel
I am sorry, that has interfered... At me a similar situation. Let's discuss. Write here or in PM.