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Thursday, December 14, 2006

Bonus Time

In the run up to Christmas, many people's credit cards are maxed out as they scrape their resources together to fund the feast of indulgence and revelry, spare a thought for the poor souls in the Square Mile.

It is now bonus season, where the select few can reap mind boggling sums on top of their annual salaries.

The Goldman Sachs bonus is reported to be an average of over £300K for every employee. This is nothing compared to some, figures in excess of £1M are paid to the real high flyers in the City.

The annual bonus round this year is expected to yield a bumper harvest. This in turn is expected to further stoke the housing bubble of London's over-stretched property market.

The question is, are these bonuses sustainable or justified?

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