Strategy

UBS Ups Compensation for US Brokers

Stephen Harris August 4, 2008

UBS Ups Compensation for US Brokers

UBS brokers in the US who produce at least $400,000 in commissions and fees for the firm annually will receive an additional 1.5 per cent to 2 per cent of those revenues, according to a report in the Wall Street Journal.

The Swiss bank currently pays 38 per cent of a US broker's annual production for those who generate at least $400,000 in commissions and fees annually, according to the report.

A sliding scale of bonuses rises to 44 per cent for brokers who produce more than $2 million in revenues.

"The incentive to jump happens to be high now, and the value of stock plans has diminished, so firms are now increasing compensation," Andy Tasnady, a New York-based compensation consultant for financial-services firms told the WSJ.

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