“It is going to be a disappointing year,” says Alan Johnson, managing principal at compensation consulting firm Johnson Associates. And lower comp isn’t the concern for industry workers.
“Headcount is going to be a big issue in the industry,” Johnson adds.
Effective remote work not only came as a surprise to asset manager business leaders, but it has also led them to rethink their firms’ operating models and staffing levels, Johnson adds.
“This working-from-home thing has worked out better than anybody ever thought,” he says. “I think they are wondering, do they need as many people they thought they needed in February? And a lot of asset management firms are going to decide ‘no, I don’t need as many people as I thought I did.’”
FundFire / August 10, 2020