As we noted yesterday, this is a good thing: Credit Suisse's stock price isn't exactly healthy. 70% of 2022 bonuses were cash awards, compared to 46% last year. If Credit Suisse bonuses fell so dramatically, why did compensation spending remain constant? Well, mostly due to two things – an increase in spending on fixed compensation (salaries) and on “other” variable incentives, driven by retention awards to staff the bank wants to keep.Ĭredit Suisse is paying a higher proportion of its bonuses in cash. The bonus pool for Credit Suisse's Material Risk Takers and Controllers (MRTCs), essentially the bank's managing directors and top traders and controllers, was down 41%.

However, total bonus spending (“variable compensation”) was down dramatically and fell 50%. Overall, Credit Suisse has barely cut spending on pay.Īs the chart above shows, total spending on compensation was largely flat on 2021. If Credit Suisse likes you, it wants you to stay. Only 1,155 material risk takers and controllers (senior staff) received bonuses, down from 1,432 in 2021 400 MRTCs received no bonuses at all for last year.īut there was good news too: “ retention” awards for senior bankers were up. More people received zeroes: only 75% of all Credit Suisse staff received bonuses for 2022, down from 88% the previous year. Credit Suisse’s annual report is out today – which means its compensation report, too.Īs expected (and as its full year results revealed a few months ago), Credit Suisse paid out a lot less than in previous years, with the bonus pool down 50%.

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