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Bankers' pay is far too large to merit bonus

Thursday, 9 February 2012

Many years ago, when I was a sales rep, it was common for jobs to be advertised on a 'commission-only' basis: no success meant no income.

If top executives today worked on such a basis, I would not deny them a bonus for success. But they do not.

The salaries of Stephen Hester (£1.2m) and Bob Diamond (£1.35m) are very substantial; to add bonuses on top of such salaries is simply obscene.

PETER HENDERSON

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