Copy machines are dangerous machines to work with. Here’s what everybody always wanted to know about bonuses (but never dared to ask). A list of bonuses at IMC Chicago, for the top 20 earners. The source is comment number 17009 on my website. Anonymous, yes – but there are good indications this is a true list. Managers, linux engineers and other folks. Chicago is an expensive city to live in.
It doesn’t happen too often to have detailed lists like this spread around. That’s an understatement. Make no mistake, even within the ranks of IMC Financial Markets these numbers are strictly confidential and limited to just a few people. Expect a full investigation by an external firm shortly – it’s likely somebody in higher management with a million plus bonus has been careless with confidential information.
Headcount at IMC Chicago approximately 175
The headcount at IMC Chicago is more or less 175. Unsure what the average bonus is for the firm, but many people will be upset seeing this list. Managers look severely overpaid at first glance. On the other hand, rival trading firms will know what to bid for some of the most valuable IT engineers in the lower half of this list.
Something is rotten in the state of Illinois. Small side note, judging by the bonus levels the profits in 2012 for IMC must have been 40% lower than 2011. Wiet Pot and Rob Defares will be not amused.
Decided to cut back the full names to their first name initials to protect some privacy for some.
The bonus list
The first number is the 2012 bonus and the next number is 2011, in USD.
1. Tim Edwards 6,000,000 10,800,000
2. Ivo Geijsen 6,000,000 10,800,000
3. A. 1,750,000 3,000,000
4. R. 1,250,000 2,500,000
5. S. 1,200,000 2,250,000
6. A. 1,000,000 2,000,000
7. S. 1,000,000 –
8. D. 1,000,000 700,000
9. J. 1,000,000 900,000
10. J. 600,000 2,000,000
11. M. 550,000 1,000,000
12. W. 525,000 –
13. C. 525,000 1,300,000
14. M. 525,000 400,000
15. J. 500,000 1,000,000
16. C. 475,000 225,000
17. J. 450,000 1,500,000
18. K. 400,000 400,000
19. R. 400,000 300,000
20. H. 400,000 750,000
There has been some discussion whether the list is genuine or not. I’ve seen the original documents and can confirm it’s real. The source is some higher manager leaving the documents in the wide view on his desk. Snapshot with iPhone is enough.
This post ignited a lot of fanmail from lawyers. See here.