Moynihan: Our Bonus Pools Are Down Year-Over-Year

The transcript discusses the challenges of compensating high earners in investment banking, focusing on balancing retention and compensation. It highlights Bank of America's bonus pool allocation, team management, and adjustments made to bonus plans. The importance of performance-based pay is emphasized, with some employees earning more or less based on performance, despite overall stock performance.

What challenges do investment banks face when trying to retain high earners?

What factors contribute to the decision-making process regarding bonuses?

How does the bonus pool allocation reflect the performance of the bank?

In what ways can a bank balance the needs of shareholders and employees?

What does the statement 'you gotta pay for performance' imply in the context of bonuses?