The guy says that he wasn't doing any work. He was just a warm body.
Thus "You'll have to be at your desk for insane hours. You won't be doing much work. You increase the chance of fat-finger[1] errors. We know you'll probably have to take illegal drugs to stay awake that long. We're borderline illegal. We're opening ourselves up to serious legal liability (eg, causing harm to our workers). But hey, you'll get a shitton of money. (Where shitton is not that much, and less than you'd get from other more normal jobs)"
It's a perverse incentive because there's money slopping round in banking, and there are not adequate controls on how that money makes its way from A to B to C.
The bank does $SOMETHING, and the customers are happy and pay, and the bank pays $BONUS. But there's randomness in the system and often the $SOMETHING has very little to do with actually making any money.
The guy says that he wasn't doing any work. He was just a warm body.
Why do you care? In particular, why do you care enough to force the employer and the employee into a different understanding?
People do all kinds of things that I don't want for myself. I wouldn't want to be a boxer since I don't like having people punch me in the face repeatedly.
Doesn't mean I would want to forbid others from being boxers.
Let people have their freedom and stop trying to control everyone else's lives and choices.
Thus "You'll have to be at your desk for insane hours. You won't be doing much work. You increase the chance of fat-finger[1] errors. We know you'll probably have to take illegal drugs to stay awake that long. We're borderline illegal. We're opening ourselves up to serious legal liability (eg, causing harm to our workers). But hey, you'll get a shitton of money. (Where shitton is not that much, and less than you'd get from other more normal jobs)"
It's a perverse incentive because there's money slopping round in banking, and there are not adequate controls on how that money makes its way from A to B to C.
The bank does $SOMETHING, and the customers are happy and pay, and the bank pays $BONUS. But there's randomness in the system and often the $SOMETHING has very little to do with actually making any money.