If you like delayed gratification you’ll love the payment plan management has come up with.

For the London-based bank’s 1,200 managing directors, bonuses for 2012 will all be deferred and paid in one-third installments from 2014 to 2016, half in cash and half in the bank’s stock, said the person, who asked not to be identified as the plans aren’t yet public.

Junior mistmakers will have bonuses capped at 65,000 pounds, with “35 percent of the total deferred and paid half in cash and half stock.” Those receiving a bonus over 250,000 pounds can look forward to a deferral comprised of half cash, half Barclays stock.

Barclays Investment Bank Said to Defer Managing Director Bonuses [Bloomberg]