Posts by Bryan Liou
Dealmakers Tipped for 20% Higher Bonuses After Bumper First Quarter
Investment bankers working on big M&A and equity capital markets deals could be in line for 20% higher bonuses this year after a surge in first quarter revenue. “We do expect bigger bonuses this cycle, and they will be heavily skewed toward top-tier dealmakers,” said Chris Connors, a managing director at Johnson Associates. “There is real competition…
Read MoreWall Street Bonuses to Rise, With M&A Bankers Set for 20% Boost or More
Wall Street bonuses are projected to jump for the third year in a row as market volatility fuels trading demand and dealmaking makes its long-awaited comeback. For investment bankers who advise corporate clients on deals, incentive pay is poised to be up 10% to 20% or more from a year earlier, according to Johnson Associates Inc. “It’s…
Read MoreMillennium and Point72 Consider New Tweaks to Some Portfolio Managers’ Pay
Amid a price war for trading talent, Steve Cohen and Izzy Englander are each considering new twists to the way they compensate select portfolio managers. Englander’s Millennium Management may provide another avenue for “certain” executives and portfolio managers to invest the deferred portion of their annual bonuses. Instead of putting the deferred pay into a…
Read More1st Quarter 2026
Johnson Associates projects year-end incentives to be flat to slightly positive across sectors. Overarching Caveats: Year-end projections fragile given macro factors. Geopolitical turmoil and credit stress key downside risks thatcould slow economy and hamper results. Q1 results strong and sentiment remains high despite these uncertainties.
Read MorePrivate Credit Compensation Implications
Following years of rapid expansion, the recent challenges in Private Credit are creating ripple effects across financial services, including compensation pressures and retention concerns. Johnson Associates explores offers practical, creative solutions to strengthen compensation programs and sustain incentive value.
Read MoreEvolving Carried Interest Structures in Private Markets
Johnson Associates recently participated in a discussion hosted by HRSoft to discuss evolving carried interest structures including the questions firms are currently grappling with and trends we are observing across our client base.
Read MoreWall Street Banks are Paying Their CEOs Like it’s 2006 Again
After years of restraint following the 2008 global financial crisis, Wall Street is handing CEOs a record payout. Chief executive officers at the top US banks all received annual compensation of at least $40 million, with their total pay surpassing records set in 2006 and 2021. The payouts reflect a banner year for the banking industry, with…
Read MoreBankers Feeling ‘Short-changed’ by Bonus Round After Deal Surge
Wall Street banks’ bonuses for investment bankers have increased by 10-15% at most firms, but senior dealmakers contacted by Financial News said that payouts have underwhelmed after a banner year in 2025. Alan Johnson, who heads Wall Street compensation consultants Johnson Associates, said that those in advisory roles received a 10-15% uplift, with some receiving increases of…
Read MoreEquity Traders See Best Bonuses Since 2021
Equity traders on Wall Street saw their incentive pools rise 15–25% in 2025, according to Chris Connors, Managing Director at Johnson Associates, with top performers sometimes exceeding that range. The surge reflected both strong markets and intense competition for talent. Connors explained that competitive pressures from prop trading firms and market makers pushed pay higher, particularly for equity…
Read MoreMorgan Stanley Hikes London Banker Bonuses by up to 15%
Morgan Stanley has increased bonuses for London investment bankers by 10-15% as Wall Street investment banks kick off what is expected to be a bumper year for compensation. In the bonuses paid in 2025, Morgan Stanley increased payouts for European bankers by 20-25%, Financial News reported. This followed a reduction of 10-15% a year earlier. …
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