Socrates X 1 year ago

When greed knows no boundries,while we suffer

Banksters are in line for the biggest bonus increases since 2009

Wall Street is set to see the biggest bonus increases since the Great Recession after a busy and profitable 2021, according to a report from pay consultancy Johnson Associates.

Booming deal activity, a hot IPO market and climbing equities mean bankers and traders are in line for outsized performance-based compensation, the report released Tuesday said.


But the sharp rebound in business activity this year has translated to unprecedented workloads for Wall Street professionals — and a competitive job market as companies prepare to shell out a premium to retain top talent and nab new hires.

Firms are “very concerned about turnover, even though pay is going to be up significantly,” Johnson Associates managing director Alan Johnson told CNBC.

Johnson Associates used public data from banks and asset management firms, along with proprietary insights from clients, to calculate the projected year-end incentives on a head-count-adjusted basis. Some investment banks, including Goldman Sachs, disclose how much management has set aside for employee compensation in quarterly earnings reports.

Overall bonuses for investment banking underwriters are forecast to jump 30% to 35% from the year prior. For investment banking advisors and equities traders, that year-over-year rise is estimated at 20% to 25%. Johnson Associates also predicts bonuses for private equity, asset management and hedge fund roles will see double-digit increases.

Sources

https://www.cnbc.com/

http://www.criticalthinker.cyou

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