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Home»Business»Wall Street bonuses expected to stay flat or decline – study
Business

Wall Street bonuses expected to stay flat or decline – study

November 14, 2023No Comments3 Mins Read
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The Wall Street sign is pictured at the New York Stock exchange (NYSE) in New York City, United States

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/ File Photo Acquire Licensing Rights

NEW YORK, Nov 14 (Reuters) – Bonuses for investment bankers advising companies on mergers and acquisitions are expected to drop by 15% to 25% this year from 2022, according to a study by Johnson Associates, a compensation consultant in New York.

Commercial and retail bankers at regional banks will receive bonuses that are 10% to 20% lower than the previous year, the report showed.

“Most Wall Street professionals will have to wait another year for a rebound,” said consultant Alan Johnson. “With the financial markets and overall economy struggling to find footing throughout the year, most business segments remain under pressure to keep compensation costs down.”

But there are some exceptions. Investment bankers working in equity underwriting are projected to receive payouts that are 5% to 15% higher than last year, while wealth managers could receive awards that are 5% higher. Retail or commercial bankers working in large institutions could see year-end bonuses stay flat or rise about 10%.

“Looking ahead, 2024 is unfortunately expected to be another challenging year,” as higher interest rates and geopolitical uncertainty restrain activity, the consultant wrote. “Headcount and staffing models are being evaluated” as turnover declines and companies divide smaller bonus pools based on performance.

Bonuses for debt underwriters are expected to stay flat or drop as much 10%, while payouts for equity trading could fall 5% to 10%.

See also  Exclusive: China's Trina Solar plans $400 million Vietnam plant after US sanctions

Finance professionals working in fixed income trading, hedge funds, private equity firms and asset managers can expect flat bonuses or small gains or losses, according to the estimates.

Reporting by Tatiana Bautzer; Editing by Lananh Nguyen and Lincoln Feast

: .

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Tatiana Bautzer is a U.S. banking correspondent at Reuters in New York. She previously covered banks in Brazil, breaking news on deals by major global corporations, initial public offerings and bankruptcies. She has also delved into corruption scandals at Brazilian conglomerates and business disputes between billionaires. Prior to joining Reuters in 2015, Bautzer worked for business magazines Exame and Istoe Dinheiro and newspapers Valor Economico and O Estado de S. Paulo. She previously served as international correspondent for Valor Economico in Washington, D.C., covering multilateral institutions and trade. Bautzer holds a B.A. in Journalism and an MBA from the University of Sao Paulo.
Contact: +646-2397968

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