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A comment on First Republic, other regional bank stocks sink after failure of SVB. Parent comment

Re:First Republic, other regional bank stocks sink after fai... by lbotos on Sunday March 12, 2023 @11:30AM (#35121217)
I suspect that’s why they are offering 1.5-2x comp for SVB employees at the moment. They know the SVB systems. They are these power to get out of the situation.

I imagine the same would happen in other situations.

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Re:First Republic, other regional bank stocks sink after fai... by sgerenser on Sunday March 12, 2023 @12:43PM (#35122395)
What? AFAIK the FDIC just keeps paying employees as normal. Where’d you hear about 1.5-2x comp, except perhaps in the event they’re hourly employees working overtime, which would just fall under normal overtime rules not some special FDIC bonus.
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Re:First Republic, other regional bank stocks sink after fai... by adastra22 on Sunday March 12, 2023 @01:13PM (#35122882)
They are paying 1.5x for retention.
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Re:First Republic, other regional bank stocks sink after fai... by mikeyouse on Sunday March 12, 2023 @12:45PM (#35122438)
Employees at SVB have roughly the same game theory decisions to stay or leave as depositors did. It costs nothing to leave right now and go work for a rival bank, but the last person out the door is going to have a very hard time… there are only a certain number of jobs / job opening for their roles so the FDIC did indeed offer a premium to keep them around.

https://www.forbes.com/sites/jackkelly/2023/03/11/some-silic...

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