You will be very lucky to get another increase in your base salary this year

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As the Financial Times reported many, many hours ago, Mercer has produced some research confirming what has been clear for a while: Europe is not the place to be if you want to receive a cash bonus with limited clawbacks and a short deferral.

This is interesting, but more interesting is the fact that Mercer has unearthed banks' inevitable intention of holding salaries constant in 2011.

Only 13% of Mercer's European financial services respondents told Mercer they planned to increase salaries in the next six months. In North America only 7% intended to. In Asia, no one did.

The research also revealed that banks classify hardly anyone as 'material risk takers.' The median number of material risk takers as a percentage of overall staff was just 0.8%.

As the FT points out, only a third of banks and insurers in the US pay deferred shares and when they do, they apply a three year vesting period. In Europe 80% of banks and insurers use deferred shares and vesting periods are as long as five years.

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