3rd Quarter 2025

Compensation Trends and Projections

November 2025

Johnson Associates projects year-end incentives to be broadly positive across sectors​. Traditional asset management rises on market appreciation. Strong hedge fund inflows and performance. Illiquid alternatives flat to up moderately with fundraising challenges. Investment and commercial banking up across all business units. Geopolitical uncertainties and tariffs linger into year-end 2025 and beyond.​