Wall Street Compensation & Benefits Association (WSCB)

Location:  New York City

2007 Compensation and the Gathering 2008 Storm (Speech)

March 2008

Johnson Associates presented at the WSCB about year-end 2007 and a look forward to 2008.  Expectation for moderately reduced compensation vs. 2006; strong first 2/3 of year followed by hellish end.  Well documented disaster in mortgages and structured products.  A modest decline in other fixed income and investment banking incentives.  The increase in staffing over 2007 now unwinding.  Fearless prediction for 2008:  will be an old-fashioned terrible compensation year, with reduced revenues across major businesses on a high cost base.