Friday, August 31, 2007

Bonus Paralysis

I have heard of a number of financial companies who are having a very difficult time hiring .NET developers, especially ones with WPF skills. The main problem with getting financial developers to move companies at this time of the year is Bonus Paralysis. Bonuses are typically announced in December and paid out in January, and nobody is going to sacrifice their bonuses at this time of the year to change companies .... unless ......

... there were little or no bonuses paid out. Because of the credit crisis, a number of news organizations have stated that bonuses this year will be drastically reduced. Everyone is now suitably warned and prepped to receive a significant decrease in last year's bonus (especially if you are in structured finance and credit derivs). And, at this time of the year, a new company would probably not guarantee your bonus.

If you are not expecting much of a bonus, would you stay around?

©2007 Marc Adler - All Rights Reserved

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