Germany’s Deutsche Bank (ETR: DBK) CEO John Cryan believes that bonuses are a waste of time and have nothing to do with employees’ efficiency.

Cryan stated that offering bonus would never make him work any harder. “I have no idea why I was offered a contract with a bonus in it because I promise you I will not work any harder or any less hard in any year, in any day because someone is going to pay me more or less,” the CEO made a statement during a panel discussion this week.

He added that he has never understood how can an incentive or supplemented salary could drive anyone to work more. The statements and comments made by Cryan has been confirmed by the bank’s spokesperson.

According to Cryan, the bank should reconsider the pay structure to make people work no differently. The employees are promised incentives and bonuses so that they could work more efficiently and increase productivity. Once the bank promises to offer incentives and bonuses to the employees, it becomes its liability to continue it for life. This, according to the CEO, exemplifies a scenario where the babies are given the candy and then it becomes difficult for the giver to take it back.

According to Fortune , Deutsche Bank is one of the most profitable entities in the banking sector that recorded 84.3 percent swing in profits in the second quarter of 2015.

The salary Cryan receives has not been announced publicly by the DB. However, according to the latest annual report of the bank, the ex-CEO received 6.7 million euros (AU$9.8 million), including bonuses.

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