/9918578/Banner

/9918578/Banner_2

/9918578/Mid

section

articleId

product

orgType

parrefer

accountID

Consulting

Banking

Accounting

Fintech

Internships

Rankings

Internship Rankings

Intern Resource Center

Explore Internships

Vault Law Home

Practice Area Resource Centers

Regional Resource Centers

Summer Program Resource Center

Vault Law Culture & Inclusion Survey

Vault Law

Guides

Events

Financial Services

Technology

Grad School

Work Relationships

Productivity

Diversity, Equity & Inclusion

Social Impact

Remote Work

Negotiating

Changing Jobs

Workplace Issues

Blog

Resume Samples

Cover Letter Samples

Interview Tips & Questions

A Day in the Life

International

Career Readiness

Explore Professions

Research Industries

Search Companies

Career Advice

Employers

Schools

&lt;p&gt;Remember that little financial crisis thing that happened a couple years back where Wall Street banks and insurance companies named AIG nearly blew up the world&#39;s financial markets largely due to their practice of paying employees to take monstrous risks?&lt;/p&gt;&lt;p&gt;&lt;img class=&quot;embeddedObject&quot; src=&quot;http://content.screencast.com/users/dloos/folders/Jing/media/024b2b90-c4e2-417b-94e7-2be0340a1e24/00000220.png&quot; border=&quot;0&quot; alt=&quot;&quot; width=&quot;300&quot; height=&quot;203&quot; align=&quot;left&quot;&gt;&lt;/p&gt;&lt;p&gt;Do you also recall not all that long ago a dude named Kenny Feinberg who was tapped by President Obama to hold a position that some called &lt;em&gt;Pay Czar&lt;/em&gt;, a job whose duties included making sure all those aforementioned firms that nearly destroyed the world&#39;s financial systems changed their pay practices so we wouldn&#39;t be susceptible to another worldwide crisis in which millions of folks lost their jobs, homes, and hope for the future?&lt;/p&gt;&lt;p&gt;Well, recently, Deloitte Touche Tohmatsu decided that they&#39;d check in with these banks and insurance concerns to see how much they&#39;ve altered their ways since Kenny Feinberg finished reprimanding them, and what Deloitte found was that ... not much has changed.&lt;/p&gt;&lt;p&gt;In fact, instead of reducing the link between big paydays and big risk, a majority of these firms are back to their pre-financial crisis ways.&lt;/p&gt;&lt;p&gt;Deloitte&#39;s study, which &quot;looked at a variety of metrics, including whether the firms used pay caps, clawback provisions and deferred payouts, as part of their overall payment plans,&quot; found that &quot;only 37 percent of the [137] financial institutions surveyed had substantially incorporated risk-management concerns into their compensation decisions.&quot;&lt;/p&gt;&lt;p&gt;In other words, 63 percent have pretty much flipped off the dude above -- as well as you, me, and your out-of-work pal whose been sleeping and slobbering on your pull-out sofa for the past 16 months.&lt;/p&gt;&lt;p&gt;(NYT)&lt;/p&gt;&lt;p&gt;(Related: Goldman Sachs Partners Cash Million-Dollar Chips)&lt;/p&gt;

Derek Loosvelt

Article

Private Equity On-Cycle Hiring Is Faster, Earlier, and Wilder Than Ever

Investment Banking Internships for Summer 2027 Are Open: How, When, and Where to Apply

MBA vs. CFA: Which Pays Off More for Banking and Finance Professionals?

How AI is Changing Careers in Banking and Finance

The Library