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Wall Street Bonuses Down 10% from Last Year
[Photo: by frankieleon / flickr]
Average bonuses are forecast by Johnson Associates to be 5% to 10% smaller in 2015, down for a 2nd consecutive year - and tempers are flaring. Dealmakers are lobbying hard with their bosses for a bigger slice of a shrinking pie, according to insiders and compensation experts. The average bank bonus pool has plunged 30% since 2009.
You can absolutely count on angry bankers clamoring for more of the deal credit this year, Alan Johnson, managing director of Johnson Associates, told The Post. “And there is more pain to come,” he added. “It could be like this for a couple more years.”
That said, some star bankers may still take home millions of dollars for their toil. Last year, the average Goldman Sachs banker got a $350,000 bonus, and will likely do fine this year. The average securities industry bonus was $172,860 last year.
Among the pain points:
- Investment bankers may see a drop up to 20%.
- Equity traders face rewards down 5-15%; debt traders down 10% to flat.
- M&A had a record 2015; this year it’s a downer, with bonuses off as much as 5-10%.