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A study of payment systems in investment banking during the 1990s

Nash, David Roger 2009. A study of payment systems in investment banking during the 1990s. Presented at: 15th International Industrial Relations Association (IIRA) World Congress, Sydney, Australia, 24-28 August 2009.

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Abstract

This paper examines the use of variable pay schemes in the UK financial services sector during the 1990s. Institutional isomorphism is outlined as a theoretical framework fo r explaining the choice of payment system within the City of London. Analysis of the 1998 Wo rkplace Employment Relations Survey shows that the financial services sector is unusual in its use of incentive pay. Survey data i s then used to highlight the increased importance of bonuses during the 1990s. Interview data gives further insight into the processes that inform the determination of bonuses, and highlights the importance of cultural factors. The paper concludes that the extensive use of bonuses in financial services has little to do with providing incentives to workers but is better explained by analysing the institutional factors that face organisations in the investment banking sector.

Item Type: Conference or Workshop Item (Paper)
Date Type: Completion
Status: Unpublished
Schools: Business (Including Economics)
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Uncontrolled Keywords: human resource management
Additional Information: International Labour and Employment Relations Association (ILERA)
Last Modified: 04 Jun 2017 03:38
URI: http://orca-mwe.cf.ac.uk/id/eprint/23995

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