--- title: "Meaning & Key Takeaway of: People are pretty simple: they do what…" description: "\"People are pretty simple: they do what they are rewarded for doing. If they get multimillion-dollar bonuses by taking huge risks with other people's mo..." image: "https://sms4smile.com/quotes/i/2f1/william-d-cohan-56466_bonus_people-are-pretty-simple-they-do-what-th_2539494.jpg" --- # People are pretty simple: they do what they are rewarded… ![“People are pretty simple: they do what they are rewarded for doing. If they get multimillion-dollar bonuses by taking huge risks with other people's money - as they still do - then they will continue to take those huge risks, and not give it another thought.” quote by William D. Cohan](https://sms4smile.com/quotes/i/2f1/william-d-cohan-56466_bonus_people-are-pretty-simple-they-do-what-th_2539494.jpg) [Download](https://sms4smile.com/quotes/i/2f1/william-d-cohan-56466_bonus_people-are-pretty-simple-they-do-what-th_2539494.jpg) [Open image](https://sms4smile.com/quotes/i/2f1/william-d-cohan-56466_bonus_people-are-pretty-simple-they-do-what-th_2539494.jpg) > “People are pretty simple: they do what they are rewarded for doing. If they get multimillion-dollar bonuses by taking huge risks with other people's money - as they still do - then they will continue to take those huge risks, and not give it another thought.” [William D. Cohan](https://sms4smile.com/quotes/author/william-d-cohan/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. People act according to incentives; large bonuses for risky behavior encourage continued risk‑taking with others’ funds. **In simple terms:** Rewards drive risky actions. Key Takeaway Align incentives with responsible behavior. Themes finance ethics incentives Mood critical analytical Type analytical inspirational When to use this quote - investment banking - corporate governance - regulation Key Concepts behavioral economics risk management Questions to Reflect On - What incentives drive current risky actions? - How can we redesign rewards for safety? A Different Perspective Changing entrenched compensation structures is politically difficult. ★ ★ ★ ★ ★ No ratings yet [Bonus](https://sms4smile.com/quotes/about/bonus/) [Bonuses](https://sms4smile.com/quotes/about/bonuses-265969/) [Bonuses Taking](https://sms4smile.com/quotes/about/bonuses-taking-1420646/) [Doing Multimillion](https://sms4smile.com/quotes/about/doing-multimillion-1420647/) [Dollars](https://sms4smile.com/quotes/about/dollars/) [Giving](https://sms4smile.com/quotes/about/giving/) [Huge](https://sms4smile.com/quotes/about/huge/) [Money](https://sms4smile.com/quotes/about/money/) [People](https://sms4smile.com/quotes/about/people/) [People Money](https://sms4smile.com/quotes/about/people-money/) [Risk](https://sms4smile.com/quotes/about/risk/) [Risks People](https://sms4smile.com/quotes/about/risks-people-500025/) [Simple](https://sms4smile.com/quotes/about/simple/) [Stills](https://sms4smile.com/quotes/about/stills/) ## Related quotes > [If you're going to take away our sponsors, why not bump it up to $100,000 for a fight bonus? Let us scrap it out…](https://sms4smile.com/quotes/jeremy-stephens/if-you-re-going-to-take-away-our-sponsors-why-not-bump-it-up-to-100/) [Jeremy Stephens](https://sms4smile.com/quotes/author/jeremy-stephens/) > [If you get married, you lose all your benefits. That's insane! We should give people bonuses for getting married, and sending signals and talking…](https://sms4smile.com/quotes/sam-brownback/if-you-get-married-you-lose-all-your-benefits-that-s-insane-we-should/) [Sam Brownback](https://sms4smile.com/quotes/author/sam-brownback/) > [Less than a year after loading the company up with debt, Romney and Bain gave themselves bonuses four times bigger than the $8 million…](https://sms4smile.com/quotes/jennifer-granholm/less-than-a-year-after-loading-the-company-up-with-debt-romney-and/) [Jennifer Granholm](https://sms4smile.com/quotes/author/jennifer-granholm/) > [Everybody thinks the Government should be doing more about everything but just think how many of the bonuses which are quite rightly being dragged…](https://sms4smile.com/quotes/terry-pratchett/everybody-thinks-the-government-should-be-doing-more-about-everything/) [Terry Pratchett](https://sms4smile.com/quotes/author/terry-pratchett/) > [The total amount of money that Wall Street handed out in bonuses last year was double the total income of ALL full-time minimum wage…](https://sms4smile.com/quotes/elizabeth-warren/the-total-amount-of-money-that-wall-street-handed-out-in-bonuses-last/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [My feeling about executive bonuses is that any candidate for a chief executive job who even raises the issue of bonuses should be dismissed…](https://sms4smile.com/quotes/henry-mintzberg/my-feeling-about-executive-bonuses-is-that-any-candidate-for-a-chief/) [Henry Mintzberg](https://sms4smile.com/quotes/author/henry-mintzberg/) > [I don't like bonuses for public services employees who do great jobs, like prosecutors or judges.](https://sms4smile.com/quotes/trey-gowdy/i-don-t-like-bonuses-for-public-services-employees-who-do-great-jobs/) [Trey Gowdy](https://sms4smile.com/quotes/author/trey-gowdy/) > [The company must not throw money away on huge bonuses for executives or other frivolities but must share its fate with the workers.](https://sms4smile.com/quotes/akio-morita/the-company-must-not-throw-money-away-on-huge-bonuses-for-executives/) [Akio Morita](https://sms4smile.com/quotes/author/akio-morita/) > [As footballers that's what we do when it comes to bonuses. we don't sit there and go 'yeah can I get £20million as a…](https://sms4smile.com/quotes/troy-deeney/as-footballers-that-s-what-we-do-when-it-comes-to-bonuses-we-don-t/) [Troy Deeney](https://sms4smile.com/quotes/author/troy-deeney/) > [In a Bloomberg poll, 88% of respondents said that Wall Street bonuses should either be banned outright or taxed at 50%. Just 7% said…](https://sms4smile.com/quotes/felix-salmon/in-a-bloomberg-poll-88-of-respondents-said-that-wall-street-bonuses/) [Felix Salmon](https://sms4smile.com/quotes/author/felix-salmon/) > [I am not a believer in large salaries. I hold that every man should be paid for personal production. Our big men at Bethlehem…](https://sms4smile.com/quotes/charles-m-schwab/i-am-not-a-believer-in-large-salaries-i-hold-that-every-man-should-be/) [Charles M. Schwab](https://sms4smile.com/quotes/author/charles-m-schwab/) > [In London, Washington, and Paris, people talk of bonuses or no bonuses. In parts of Africa, South Asia, and Latin America, the struggle is…](https://sms4smile.com/quotes/robert-zoellick/in-london-washington-and-paris-people-talk-of-bonuses-or-no-bonuses/) [Robert Zoellick](https://sms4smile.com/quotes/author/robert-zoellick/) > [I work every day - or at least I force myself into office or room. I may get nothing done, but you don't earn…](https://sms4smile.com/quotes/mordecai-richler/i-work-every-day-or-at-least-i-force-myself-into-office-or-room-i-may/) [Mordecai Richler](https://sms4smile.com/quotes/author/mordecai-richler/) > [I don't think bonuses are always bad.](https://sms4smile.com/quotes/andrew-cuomo/i-don-t-think-bonuses-are-always-bad/) [Andrew Cuomo](https://sms4smile.com/quotes/author/andrew-cuomo/) > [I always am a firm believer in you compensate people for their job, and so I did give them bonuses. We accomplished a lot…](https://sms4smile.com/quotes/john-salazar/i-always-am-a-firm-believer-in-you-compensate-people-for-their-job/) [John Salazar](https://sms4smile.com/quotes/author/john-salazar/) ## More by William D. Cohan > [The dirty little secret of what used to be known as Wall Street securities firms-Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers, and Bear…](https://sms4smile.com/quotes/william-d-cohan/the-dirty-little-secret-of-what-used-to-be-known-as-wall-street/) [William D. Cohan](https://sms4smile.com/quotes/author/william-d-cohan/) > [Because I wrote a book about Goldman Sachs. And I know that, from talking to people at Goldman Sachs, that Trump is the poster…](https://sms4smile.com/quotes/william-d-cohan/because-i-wrote-a-book-about-goldman-sachs-and-i-know-that-from/) [William D. Cohan](https://sms4smile.com/quotes/author/william-d-cohan/) > [“Despite the ongoing risks, during great swaths of its mostly charmed 142 years, Goldman Sachs has been both envied and feared for having the…](https://sms4smile.com/quotes/william-d-cohan/despite-the-ongoing-risks-during-great-swaths-of-its-mostly-charmed/) [William D. Cohan](https://sms4smile.com/quotes/author/william-d-cohan/) > [Having worked at four separate Wall Street firms, having seen a variety of talent at those places, and having competed against Goldman as a…](https://sms4smile.com/quotes/william-d-cohan/having-worked-at-four-separate-wall-street-firms-having-seen-a/) [William D. Cohan](https://sms4smile.com/quotes/author/william-d-cohan/) > [Generally speaking, they have as many stars as other firms, but they are low-key about it, because that's not the Goldman way, but their…](https://sms4smile.com/quotes/william-d-cohan/generally-speaking-they-have-as-many-stars-as-other-firms-but-they/) [William D. Cohan](https://sms4smile.com/quotes/author/william-d-cohan/) [Explore all 6 William D. Cohan quotes ](https://sms4smile.com/quotes/author/william-d-cohan/) ## More Bonus quotes > [I nibbled my lower lip. "If you could see into my past just by touching my back, you'd have a hard time resisting the…](https://sms4smile.com/quotes/becca-fitzpatrick/i-nibbled-my-lower-lip-if-you-could-see-into-my-past-just-by-touching/) [Becca Fitzpatrick](https://sms4smile.com/quotes/author/becca-fitzpatrick/) > [I'm happy doing what I'm doing, and if you have that kind of attitude then everything else from there on is a bonus.](https://sms4smile.com/quotes/tommy-lee/i-m-happy-doing-what-i-m-doing-and-if-you-have-that-kind-of-attitude/) [Tommy Lee](https://sms4smile.com/quotes/author/tommy-lee/) > [“All fair in love and bonus round”](https://sms4smile.com/quotes/david-charters/all-fair-in-love-and-bonus-round/) [David Charters](https://sms4smile.com/quotes/author/david-charters/) > [People paid money for tickets to see us and be entertained by us, and we've never forgotten that. Anything after that was a bonus.](https://sms4smile.com/quotes/malcolm-young/people-paid-money-for-tickets-to-see-us-and-be-entertained-by-us-and/) [Malcolm Young](https://sms4smile.com/quotes/author/malcolm-young/) > [Just as Wall Street needs to break the hold of the bonus culture, which drives risk-taking that is rational for individuals but damaging to…](https://sms4smile.com/quotes/randy-schekman/just-as-wall-street-needs-to-break-the-hold-of-the-bonus-culture/) [Randy Schekman](https://sms4smile.com/quotes/author/randy-schekman/) > [“I have a hard time keeping my hands off you without that added bonus”](https://sms4smile.com/quotes/becca-fitzpatrick/i-have-a-hard-time-keeping-my-hands-off-you-without-that-added-bonus/) [Becca Fitzpatrick](https://sms4smile.com/quotes/author/becca-fitzpatrick/) > [I feel very privileged to get to read and write and not to have to do things that I don't like, and I don't…](https://sms4smile.com/quotes/pankaj-mishra/i-feel-very-privileged-to-get-to-read-and-write-and-not-to-have-to-do/) [Pankaj Mishra](https://sms4smile.com/quotes/author/pankaj-mishra/) > [After 40, every day is a bonus. We should know how to live our lives to the fullest.](https://sms4smile.com/quotes/suhasini-maniratnam/after-40-every-day-is-a-bonus-we-should-know-how-to-live-our-lives-to/) [Suhasini Maniratnam](https://sms4smile.com/quotes/author/suhasini-maniratnam/) > [I'd love to go and I'd love to play for my country and go to a World Cup again. I've got to accept I'm…](https://sms4smile.com/quotes/michael-owen/i-d-love-to-go-and-i-d-love-to-play-for-my-country-and-go-to-a-world/) [Michael Owen](https://sms4smile.com/quotes/author/michael-owen/) > [I am indeed a fortunate man and today's hours are but a bonus, undeserved. Why have I been allowed to live this extra day…](https://sms4smile.com/quotes/og-mandino/i-am-indeed-a-fortunate-man-and-today-s-hours-are-but-a-bonus/) [Og Mandino](https://sms4smile.com/quotes/author/og-mandino/) > [If I win, it's a bonus. If I lose, the sun still comes up the next day, and it's all good.](https://sms4smile.com/quotes/ashleigh-barty/if-i-win-it-s-a-bonus-if-i-lose-the-sun-still-comes-up-the-next-day/) [Ashleigh Barty](https://sms4smile.com/quotes/author/ashleigh-barty/) > [I wish I could Buy Time - just write a cheque, and a few days later a brown cardboard box would arrive at the…](https://sms4smile.com/quotes/neil-gaiman/i-wish-i-could-buy-time-just-write-a-cheque-and-a-few-days-later-a/) [Neil Gaiman](https://sms4smile.com/quotes/author/neil-gaiman/) > [If you're going to take away our sponsors, why not bump it up to $100,000 for a fight bonus? Let us scrap it out…](https://sms4smile.com/quotes/jeremy-stephens/if-you-re-going-to-take-away-our-sponsors-why-not-bump-it-up-to-100/) [Jeremy Stephens](https://sms4smile.com/quotes/author/jeremy-stephens/) > [A lot of companies make diversity a part of the performance goals against which an executive gets paid. Just as you have to make…](https://sms4smile.com/quotes/vernon-jordan/a-lot-of-companies-make-diversity-a-part-of-the-performance-goals/) [Vernon Jordan](https://sms4smile.com/quotes/author/vernon-jordan/) > [Well, I got better after this, and my entire family really did appreciate it. Usually, they're resentful of movies that I go off and…](https://sms4smile.com/quotes/meryl-streep/well-i-got-better-after-this-and-my-entire-family-really-did/) [Meryl Streep](https://sms4smile.com/quotes/author/meryl-streep/) [Browse all 284 Bonus quotes ](https://sms4smile.com/quotes/about/bonus/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "People are pretty simple: they do what they are rewarded for doing. If they get multimillion-dollar bonuses by taking huge risks with other people's money - as they still do - then they will continue to take those huge risks, and not give it another thought.", "creator": { "@type": "Person", "name": "William D. Cohan" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/william-d-cohan/people-are-pretty-simple-they-do-what-they-are-rewarded-for-doing-if/", "about": { "@type": "Thing", "name": "Bonus" }, "@id": "https://sms4smile.com/quotes/william-d-cohan/people-are-pretty-simple-they-do-what-they-are-rewarded-for-doing-if/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/2f1/william-d-cohan-56466_bonus_people-are-pretty-simple-they-do-what-th_2539494.jpg", "contentUrl": "https://sms4smile.com/quotes/i/2f1/william-d-cohan-56466_bonus_people-are-pretty-simple-they-do-what-th_2539494.jpg", "url": "https://sms4smile.com/quotes/i/2f1/william-d-cohan-56466_bonus_people-are-pretty-simple-they-do-what-th_2539494.jpg", "width": 1080, "height": 1080, "caption": "“People are pretty simple: they do what they are rewarded for doing. If they get multimillion-dollar bonuses…” — William D. Cohan", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "William D. Cohan", "item": "https://sms4smile.com/quotes/author/william-d-cohan/" }, { "@type": "ListItem", "position": 4, "name": "People are pretty simple: they do...", "item": "https://sms4smile.com/quotes/william-d-cohan/people-are-pretty-simple-they-do-what-they-are-rewarded-for-doing-if/" } ], "@id": "https://sms4smile.com/quotes/william-d-cohan/people-are-pretty-simple-they-do-what-they-are-rewarded-for-doing-if/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```