Annual bonuses based on commisions generated are the traditional way brokers have received most of their compensation, just like waiters depend on tips, not salary.
Merrill Lynch’s retail brokers generated tremendous profits for the company that almost completely offsetted the tremendous losses the company had on the bad mortgage investment portfolio.
To not pay these men and women for their outstanding work due to Congressional envy, is both wrong and very bad business.
Envy is really the deadliest of the seven deadly sins.
“Annual bonuses based on commisions generated are the traditional “
Guess what?
In the past year, there have been big changes, in case you didn’t see them.
These companies will need to respond accordingly.