That seems a little extreme. The reason they do bonuses is because in a bad year they can pay you 0.5x and in a good year 1.5x. You still get an average of x per year, but in such a way that they don't go out of business. Finance companies tend to see much larger revenue swings than other industries.
My current employer gets over this hurdle by guaranteeing your bonus for 1-2 years, thus giving them time to build trust before the variable compensation gets going.
My current employer gets over this hurdle by guaranteeing your bonus for 1-2 years, thus giving them time to build trust before the variable compensation gets going.