An annual report from compensation consulting firm Johnson Associates at the end of last year predicted bankers could see bonuses dropping 15% to 25% this season.
“Most Wall Street professionals will have to wait another year for a rebound in year-end bonuses,” Alan Johnson, managing director of the firm, said. “For most… it will be another disappointing year.”
Of course, the issue is that most bankers think they’re the exception to the rule — and will be the outlier who gets compensated well. At the same time, many young bankers have inflated expectations after receiving record bonuses for the 2021 fiscal year.
New York Post / January 25, 2024