Bank Ethics. Is it ethical for bankers to be paid bonuses.

Bank Ethics
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Banker bonuses have long been on the political agenda, with Oxfam International issuing warnings on economic inequality worldwide. In the light of so many scandals, banker bonuses remain highly contentious. Is it ethical for bankers to be paid bonuses? For opponents, it may not be ethical, but for bankers, it is part of their profession. A large number of companies, including several big banks, believe that bonuses encourage bankers to work harder and take risks within the financial sector (Murphy, 2013).
In his book titled Feeling Smart: Why Our Emotions are More Rational than We Think, Eyal Winter mentions that if a person is not paid bonus or provided with extra benefits, he may soon lose his interest in the job (Winter, 2014, p. 41). In 2014, the bankers were paid up to £2.4 million across Europe. However, regulators and policymakers have been trying to crack down on this system by introducing strict rules and regulations. They should bear in mind that bonuses work like investments and encourage bankers to give their best and to serve the organization in a better way. Rewarding a bonus is not unethical since it allows the employees to think out of the box and perform well months after months (Winter, 2014).
In any startup, multinational company or bank, every bit of efforts counts and rewarding employees on a weekly or monthly basis will surely boost their confidence and help them grow considerably; hence, it will increase the inputs from the manpower. For any banker, it is quite important to meet both short and long deadlines. He is often asked to work under pressure and fulfill his day-to-day tasks without compromising on quality (Murphy, 2013).
For everything he does for the bank, he receives low pay which may not help him run an entire ho...