Raise your hand if you trade equities at a bulge bracket bank…
Now raise your hand if you still trade equities at a bulge bracket bank…
That’s…fewer hands.
But, hey, there’s worse news!
Bonuses for equities traders could fall as much as 15% from a year earlier, while their fixed-income counterparts could see a 10% drop, according to a report released Tuesday from compensation consultant Johnson Associates Inc. It predicts total incentive compensation for investment and commercial banks will drop in 2019 — the third time in the last four years — on geopolitical and rate uncertainty.
Oh, we’re not trying to be mean. But also, there is this:
Bonuses for retail and commercial bankers could increase 5%, reflecting the benefit the biggest U.S. banks have been deriving all year from their Main Street operations.
And this:
Elsewhere on Wall Street, hedge fund and private equity bonuses could climb as much as 5% on positive flows. Asset-management bonuses will probably drop 5% on lower revenues, according to the report.
Okay, maybe we’re trying to be a little mean.
Click through to the Bloomberg post for a “fun” graphic.
Wall Street Bonuses to Take a Hit From This Year’s Trading Slump [Bloomberg]