Bank of America rethinks bonus-based pay

March 27, 2009 10:22:46 PM PDT
Bank of America is considering changing how its investment bankers are compensated, emphasizing salaries over bonuses as a way to reward them.

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As a result, salaries could increase 70 percent, from the current $150,000 and $180,000 to $200,000 and $300,000 a year.

Bank of America has received $45 billion in taxpayer money as part of the government bailout.

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