“The majority of professionals at traditional and alternative asset firms as well as retail and commercial bankers will see smaller bonuses,” said the firm’s managing director, Alan Johnson. “Conversely, fixed income pros will be rewarded handsomely as uncertainty and high volatility contributed to record trading.”
Hedge funders will have a check about 5 percent to 10 percent smaller to drop into their fleece-vest pockets, according to Johnson, as the industry has struggled to get back in the black after the shock of the spring.
“As compared to many sectors of the economy, select areas of financial services have rebounded,” Johnson said. “Unfortunately, as we look to 2021, even with an optimistic vaccine path, the pandemic will continue to negatively influence businesses, but perhaps to a lesser degree than in 2020.”
New York Post / November 12, 2020