Bonus season is upon us once more and lavish payments are expected for a select few.
But should banks that have been bailed out by the taxpayer reward staff with cash payments on top of their salaries? And do end-of-year bonuses incentivise the right kind of behaviour in an industry that is central to Britain's economy?
The director of the British Bankers' Association Irving Henry says bonuses are the best way of rewarding high performance, and that tightening regulations would force the best staff overseas.
But do the highest bonuses really go to the best performers? And is short-term risk-taking being better rewarded than sound long-term decision-making? To debate all this we have an expert panel.
Deborah Hargreaves is the head of the High Pay Commission - an inquiry into executive pay. She's also the Guardian's former business editor.
Jill Treanor is a financial journalist on the Guardian and a banking expert.
Steve Davies is a director of the free-market thinktank the Institute of Economic Affairs.
Seth Freedman is an journalist, former trader and author of an insider's account of the City, Binge Trading.
