3rd Quarter 2022
Compensation Trends and Projections November 2022 READ REPORT
New York City’s Pay-transparency Law is Coming. Wall Street’s Big Paydays Will Stay Secret, But Other changes Could Shake Up Finance.
“For more senior positions, I think it will have less impact because salary is a smaller part of pay,” Alan Johnson, the managing director of the compensation consultancy Johnson Associates, told Insider in an interview. Still, firms are worried about the legal impact of the rules. “Maybe the biggest thing is, people are worried about…
Economic Uncertainty May Slow Manager Diversity Efforts: Recruiters
Economic headwinds, including the threat of a recession, may have a negative impact on diversity within the asset management industry, some recruiters told FundFire… A slower economy will mean less hiring from outside the industry and less hiring in the bottom and middle ranks, said Alan Johnson, the managing director of Johnson Associates. “If we’re…
Goldman Sachs Prepares for Layoffs as Deal-Making Slows
Still, for executives across Wall Street, assessing the requisite size for layoffs can be difficult. There are conflicting signs about the state of the U.S. economy, with some estimating that it may already be in a recession, or about to enter one, while others believe that there will be a slowdown but no contraction. And…
Layoffs and Lower Pay on the Way for Asset Managers – Report
‘There are two key drivers contributing to the decrease,’ said Chris Connors, VP at Johnson Associates, ‘The primary driver is the market decline this year.’ Among fears of recession and rising inflation, major indices in the US are down this year, with the S&P down about 14% and the Bloomberg Aggregate Bond index down about…
Wall Street Bonuses Poised to Plunge Following Slowdown in Deals
“2021 was a fabulous year and this is a real downer,” Alan Johnson, managing director of Johnson Associates, said in an interview. “We’ve had bonus declines before, but you overlay that with inflation by the end of the year and I think it’s going to be particularly painful.” Investment-banking revenue fell 43% in the first…
Job Cuts and Smaller Bonuses Loom for Wall Street Amid Collapse in IPOs and Stock Issuance
“There are going to be a lot of people who are down 50%,” Alan Johnson, managing director of the namesake firm, said in an interview. “What’s unusual about this is that it comes so soon after a terrific year last year. That, plus you have high inflation eating into people’s compensation.” “We will have layoffs…
Wall Street’s Lavish Bonuses Are Getting Slashed
“It’s been a real shock,” Alan Johnson, managing director of the firm, told me. “I don’t think any of us really appreciated how much the pandemic stimulus created a bubble … now the lights have come on and it’s a little ugly.” Of course, Johnson says, these firms are still very profitable. “They went from…
2nd Quarter 2022
Compensation Trends and Projections August 2022 READ REPORT
Analysis: Wall Street Weighs Job Cuts as Deals Slide in Battered Markets
Tough times this year and a “mediocre” outlook for 2023 will prompt investment banks to cut 5% to 10% of their staff and reduce compensation for those who remain, said Alan Johnson, managing director at compensation consultancy firm Johnson Associates. “They are not going to pay as well,” said Johnson. “People are putting lists together…