diff --git a/src/Makefile b/src/Makefile
index 736dd037..79a85b9c 100644
--- a/src/Makefile
+++ b/src/Makefile
@@ -431,11 +431,12 @@ install-lib:
 install-share:
 
 install-bin:
+	mkdir $(out)/bin
 	$(CP) $(MAIN) $(MAIN_BYTE) $(TMPL) $(TMPL_BYTE) \
 		$(SERVER) $(SERVER_BYTE) $(OCAML_SESSION) \
 	  $(MK_STOG) $(MK_STOG_BYTE) $(MK_STOG_OCAML) \
 	  $(LATEX2STOG) $(LATEX2STOG_BYTE) \
-		`dirname \`which $(OCAMLC)\``/
+	  $(out)/bin
 
 uninstall: uninstall-lib uninstall-share uninstall-bin