"If you have other ideas on how to avoid the slip into promo-culture, I’d love to hear your thoughts" Proper bonuses (proper = multiple of base salary). If pro

"If you have other ideas on how to avoid the slip into promo-culture, I’d love to hear your thoughts" Proper bonuses (proper = multiple of base salary). If promotion is the only way to get comp then obviously it matters a great deal. However, if you can get good comp based on your performance (and not your rank), then promotion matter much less. At most investment banks/hedge funds the highest paid employee is NOT the CEO; it is somebody that made the the firm $248m last year and that got to keep a fraction of it as a bonus.