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What’s the difference between a bonus and a ‘retention award’?

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Deutsche Bank's latest wheeze to pay its best and brightest might look like a crafty sleight of hand typical of weaselly bankers. But having announced a pared back bonus pool just a few weeks ago, it transpires the firm has ear-marked extra dosh to make up for it. Under the hair-shirt was a silk vest all along one might think. But Deutsche has no choice but to pay the market rate for staff if it is to deliver any return to shareholders.

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