Commentary: BofA's exit from TARP could bode well for bonuses

12/7/2009 | eFinancial Careers

The exit of big financial firms like Bank of America from the Troubled Asset Relief Program could mean bigger year-end bonuses for finance professionals in 2010, according to an analysis by Jon Jacobs in eFinancial Careers. "By escaping Treasury Department pay czar Kenneth Feinberg's dictates, BofA -- one of the industry's largest employers -- will demolish what's been a major barrier to recruiting and retaining talent. At the margin, that's bound to tilt the labor market ball field in professionals' favor even if the bank neither steps up hiring nor seeks to reverse Feinberg's previous vetoes of top performers' compensation packages," Jacobs writes.

View Full Article in:

eFinancial Careers

Published in Brief: