Barclays, under pressure to trim its securities unit, paid its investment bankers an average bonus of about $84,439.
Bloomberg reports that bonuses fell 17% in 2012 from $101,863 for each employee a year earlier.
Barclays will defer all 2012 awards for the bank’s 1,200 managing directors at the investment bank and pay bonuses of as much as 65,000 pounds in cash for more junior staff, a person with knowledge of the plans said earlier this month. Managing directors’ bonuses for 2012 will all be deferred and paid in one-third installments from 2014 to 2016, half in cash and half in shares, said the person, who asked not to be identified as the plans aren’t yet public.
For more junior staff, awards greater than $101.7m and less than $391.2m will see 35% of the total deferred and paid half in cash and half in stock. Any bonus of more than $391.2m will be deferred, with half being paid in cash and the rest in stock, the person said.
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