{"id":194058,"date":"2008-10-28T23:05:00","date_gmt":"2008-10-29T04:05:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/28\/not-enough-bullets-a-continuing-series\/"},"modified":"2008-10-28T23:05:00","modified_gmt":"2008-10-29T04:05:00","slug":"not-enough-bullets-a-continuing-series","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/28\/not-enough-bullets-a-continuing-series\/","title":{"rendered":"Not Enough Bullets: A Continuing Series"},"content":{"rendered":"<p>Well, now that Merrill Lynch was forced to sell itself to Bank of America, some of it&#8217;s employees are <a href=\"http:\/\/www.cnbc.com\/id\/27405771\">feeling insulted by the retention packages offered<\/a>:<\/p>\n<blockquote style=\"COLOR: rgb(0,0,153)\"><p>The problem isn&#8217;t with high-flying producers bringing in at least $1.75 million in annual revenues. Those employees will most likely get 100 percent of their annual revenue as a retention bonus, spread out over seven years. The bad feelings are among those making less. A financial advisor producing $700,000 in revenues is being offered $175,000 in cash over seven years and a 25% growth bonus over three years. Manis says that same producer could get a lot more defecting to a competitor\u2014&#8221;around $850,000 in cash on about a 9 year deal plus another $700,000 or so back end bonuses (after one to two years).&#8221;<\/p><\/blockquote>\n<p>Yeah, because <span style=\"FONT-WEIGHT: bold\">so many<\/span> investment banks are hiring <span style=\"FONT-WEIGHT: bold\">so many<\/span> people right now&#8230;..You have options.<\/p>\n<p>Seriously, the unbridled sense of entitlement of these folks just buggers the mind.<\/p>\n<p>These people are overpaid used car salesmen, and as has been shown over the past few months, their advice is less reliable than my cats, who at least don&#8217;t try to conceal their self interest.<\/p>\n<p>In the mean time, RJ &amp; Mckay, a financial services body shop has a video out to try and generate some recruiting fees:<\/p>\n<p><embed src=\"http:\/\/www.youtube.com\/v\/IXjz9mEeZJM&amp;hl=\" width=\"425\" height=\"344\" type=\"application\/x-shockwave-flash\" fs=\"1\" allowfullscreen=\"true\"><\/embed><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, now that Merrill Lynch was forced to sell itself to Bank of America, some of it&#8217;s employees are feeling insulted by the retention packages offered: The problem isn&#8217;t with high-flying producers bringing in at least $1.75 million in annual revenues. Those employees will most likely get 100 percent of their annual revenue as a &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1051,982],"tags":[],"class_list":["post-194058","post","type-post","status-publish","format-standard","hentry","category-economy","category-hypocrisy","category-stupid"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194058"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=194058"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194058\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}