Bonus but no basic

Wednesday, November 25, 2009

I WOULD be all in favour of bonus payments to the top managers in the banks and in the various branches of the public services, provided they got nothing else.

If they got zero salary, then they would have to earn their bonuses or else end up with nothing at all. Bonuses would have to be assessed in proportion to the level of achievement, with a permanent upper pre-tax limit of €100,000.

If people cannot make ends meet on an income of €100,000, then they do not deserve to be top managers.

We would need an independent body to set proper standards and to carry out annual assessments fairly. There should also be a law stating "one person, one bonus".

Michael Mernagh
Raheens
Carrigaline
Co Cork

This story appeared in the printed version of the Irish Examiner Wednesday, November 25, 2009