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Instead, banks will introduce higher fixed salaries and convoluted pay schemes.
There are expectations that banks may respond to the bonus cap by raising fixed salaries.
This has had the effect of shifting remuneration towards fixed salaries.
Also, pro golfers, unlike baseball, football or basketball players, have no fixed salaries.
The most important were the thathameda, the assessed land tax, and fixed salaries for government officials.
First, as owners, the partners get paid in profits, rather than in fixed salaries or cash bonuses.
The regulator said the introduction of the bonus cap had led EU banks to shift remuneration towards fixed salaries.
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Arena Football League players filed a class-action antitrust suit yesterday in Newark seeking free agency and an end to price-fixed salaries and contracts without injury benefits.
"It will drive up fixed salaries to compensate," one British financial services executive told the BBC.
If so, its operations are immune from federal taxation and, as a necessary corollary, 'fixed salaries and compensation paid to its officers and employees in their capacity as such are likewise immune". Brush v. Commissioner, supra, page 360, 57 S.Ct.
Fixed salaries may rise to offset the loss; they are harder to claw back.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com