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@ISIDEWITHQuestionsEconomyStarted 11yrs agoActive 3wks ago

Should bankers’ bonuses be capped at 100% of their pay?

In 2014, the EU passed legislation that capped bankers' bonuses at 100% of their pay or 200% with shareholder approval. There are currently no caps on banker's pay in Australia. Proponents of the cap say that it will reduce incentives for bankers to take excessive risk similar to what led to the 2008 financial crisis. Opponents say that any cap on bankers' pay will push up non-bonus pay and cause bank's costs to rise.

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Answer Overview

Response rates from 12.5k Australia voters.

68%
Yes
32%
No
55%
Yes
25%
No
6%
Yes, and lower the cap to 20%
8%
No, any worker should be rewarded based on their success
4%
Yes, and nationalise the banks
3%
Yes, and lower the cap to 50%

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Trend of how important this issue is for 12.5k Australia voters.

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Other Popular Answers

Unique answers from Australia voters whose views went beyond the provided options.

 @9WNJ2H2from Virginia  answered…2yrs2Y

All worker's bonuses should be capped at 100% of their pay unless they are underpaid in their field and have to meet strict targets to receive their bonus

 @BDGNHY3answered…3wks3W

No, and and create a national bank

 @BD2FTK6answered…1mo1MO

No, but any bonus over 100% should be public knowledge.

 @BCXPZK5answered…1mo1MO

Charging interest on money created out of thin air, the fractional reserve banking system, is a criminal activity. Whoever does it should be treated accordingly.

 @B5XSCW3answered…11mos11MO

No. A bonus is largely a payment facilitated by a company with its own funds at its discretion. Thereby, provided it does not facilitate improper conduct, there is no reason to prohibit as such.

 @B57NYYHanswered…1yr1Y

Yes; a cap on bankers’ bonuses should be instilled at 100-200% of their pay, to reduce incentive for bankers for product sales, and practices, that prioritise profit over customer welfare, and risk financial crisis; harm, upon society as a whole.

 @B4XPQN3answered…1yr1Y

No, bonuses are a function controlled by any business, banks included. So long as these bonuses are not facilitating anything illegal, they should be allowed to determine the level of bonus as they please.

 @B6G3KTWanswered…10mos10MO

No, bonueses are an internal delegation of the bank's income themselves. Given it is their money, it should be up to them how it is spent or delegated.

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