Big banks and brokerages slashed their bonus pools last quarter after pitiful trading activity led to double-digit revenue declines. Unless things turn around — and soon — Wall Streeters will see shrunken bonuses and possible layoffs, experts said.
“The sun could shine brightly the rest of the year, but most people would be quite surprised if that happened,” says Alan Johnson, a compensation consultant for Wall Street brokerages. Johnson warned that bonuses could be down as much as 10% this year — followed by job cuts next year — if trends continue.
USA Today / October 21, 2015