“It’s wild how hot the labor market is,” said Alan Johnson, a consultant who helps financial firms design their pay programs. “You’ve got crypto, you’ve got tech,” he said, plus the ever-present “siren song of private equity,” which pays far more than banks do…
The payouts come after a go-go year that generated record revenue for banks but widespread burnout among their workers. Mr. Johnson said he counseled his clients not to expect outpourings of gratitude.
“No matter how much you pay them, people believe that with all the stress they’ve gone through, they deserved more,” he said.
The Wall Street Journal / January 20, 2022