Week of 11/4/2024: Director Bonus Watch: News You Need to Know

💰 Claw Back Your Compensation? 💸

🔥 Bonus season is heating up, and it’s the ultimate measure of how your firm values you. Nice words and promises for next year don’t cut it. 🔥

In this edition, ex-Citi MDs are pushing the board to claw back bonuses. If it happened to me? I’d tell my firm they’re welcome to bring it up with my kids' colleges. Let Citi take on Dartmouth and others! 🎓💼

Have you had that pre-bonus chat yet? It’s absolutely vital to lock in the highest compensation possible. And yes, you can still shape the outcome!

Former Citi bankers ask board to pull back hundreds of bonuses - report

• Anonymous authors who say they represent 10 former managing directors
• The group wants the bank to halt and take back rewards from hundreds of managers
• The demands come about a year after CEO Jane Fraser implemented a cost-cutting plan

Goldman Sachs boosts size of partner class - report

• Banking revenue increased 16% Y/Y to $1.6 billion
• $25 billion private credit partnership with Apollo Global

🗣️Let's talk: mike@mikemittleman.com