The Spectator

Barometer | 4 February 2012

issue 04 February 2012

Bonus culture

Some have called for an end to a ‘bonus culture’ in banks and big firms. But bonus culture has been around a long time…
— Around the year ad 70, Roman legionnaires received bonuses of 25 denarii to supplement their salaries of 225 denarii.
— Bonuses were recorded by 14th-century Florentine banks, with one employee of the Peruzzi Company receiving 40 lire to supplement a salary of five times that sum.
— In 1965 India passed the Payment of Bonus Act, which entitled employees to a bonus of 8.33 per cent of their salary, and at least 100 rupees, providing they worked for more than 30 days in a year.



Who’s unbalanced?

Nicolas Sarkozy says ‘Britain has no industry any more’. How balanced is our economy compared with those of other rich nations?

% contributions to Gross Value Added, 2010



Manufacturing  Services
11 France 80
21 Germany 71
17 Italy 73
18 Japan 73
12 UK 77
13 US 79

Source: US Census Bureau

Comments

Join the debate for just $5 for 3 months

Be part of the conversation with other Spectator readers by getting your first three months for $5.

Already a subscriber? Log in