Money management professionals can expect to see a jump of 10% to 15% over last year’s bonus payouts, according to projections from compensation consultant Johnson Associates.The projection matches Johnson’s preliminary estimate of the same range in May.
Incentive payouts for professionals in hedge funds, equities, private equity and prime brokerage will increase anywhere from 5% to 15% compared to last year.
“This year is shaping up to be a relatively strong one for the asset and wealth management industries,” said Alan Johnson, managing director of Johnson Associates, in the report. “However, ongoing cost-cutting initiatives across the financial services industry, combined with continued uncertainty and an uneven economic recovery are keeping incentives somewhat in check.”
The projections are based on third-quarter trends in the financial services industry, according to the report.
Crain’s Detroit Business / November 7, 2013