Wall Street Pay Takes a Hit, Braces for Deeper Cuts

Roughly translated, this means layoffs in costly cities like New York and London in favor of hiring in cities like Mumbai, said Alan Johnson, a compensation consultant for Wall Street brokerages. “Downsizing and relocation, you’re going to see both.” The pay cuts come as Wall Street struggles with falling demand for trading and underwriting. They are also a reflection of Wall Street’s…

Beyond Banking: Filling the Recruitment Abyss

Analysis by the Financial Times shows that graduates from the world’s top 10 MBA schools are 40 per cent less likely to go into investment banking now than they were before the financial crisis. Pay and lifestyle are the two biggest deterrents. Alan Johnson, managing director of Johnson Associates, a Wall Street pay consultant, estimates…

Bonus Forecast: Chilly in Europe, Warmer in America

Alan Johnson, managing director of New York compensation consultants Johnson Associates, predicts average bonuses at the big investment banks globally will be down 10% to 15% this year but with wide variation between different product areas. And he says that the gap between pay at US banks and European rivals is likely to widen. Financial…

Wall Street Bracing for Lower Bonuses for First Time in Years

“It’s a disappointment,” said Alan Johnson, managing director at New York-based Johnson Associates. “It’s been such an uncertain year, a stressful year. Pay is down moderately, but it feels worse.” The uncertain mood across the industry should continue into 2016, said Mr. Johnson, who predicted many firms would take steps to shrink their workforces again…

Wall Street Faces Smaller Bonuses, Possible Layoffs

Big banks and brokerages slashed their bonus pools last quarter after pitiful trading activity led to double-digit revenue declines. Unless things turn around — and soon — Wall Streeters will see shrunken bonuses and possible layoffs, experts said. “The sun could shine brightly the rest of the year, but most people would be quite surprised…