Press
‘Dumb’ Bonus Caps Won’t Reduce Pay, Aren’t Coming to the U.S.
The European Union appears well on its way implementing strict caps on banker bonuses, with finance chiefs for 26 of the 27 EU nations backing the proposed rules. The caps have ruffled many a feather on both sides of the pond, as the rules also apply to Americans working for EU banks as well as…
Read MoreManager Move Sparks Analyst Bonus Debate
Manning & Napier, an asset manager with $45 billion under management, has devised an unorthodox way of compensating its analysts, penalizing them for selections that cause underperformance in client portfolios and carrying these penalties forward into future years. It says the method more closely links analyst goals with institutional investors, but experts disagree… “It is…
Read MoreThe Bright Side of Bank Robbery
Morgan Stanley’s reported move to defer 100% of 2012 bonuses for high-earning employees is the crescendo of a trend of big banks deferring more pay in recent years. It’s the second straight year of big deferrals at Morgan Stanley, which a year ago held back 75% of bonuses for traders, investment bankers, and other high…
Read MoreIndustry Cautiously Optimistic on 2013 Pay: Poll
Many industry professionals are optimistic that their 2013 compensation will be higher than last year’s pay. That is according to the results of an Ignites poll that also found nearly 40% of participants predict they will earn about the same amount this year as last year. Roughly 36%, or 156 voters, expect their total 2013…
Read More‘Fiscal Cliff’ Fears Probably Won’t Make Bonuses Come Faster
U.S. companies may be paying out big dividends before tax rates rise next year, but for now they’re holding the line with executive bonuses. “Politically it would be a disaster,” said Alan Johnson, CEO of Johnson Associates. CNBC / November 29, 2012 READ ARTICLE
Read MoreWall Street Bonuses Running Neither Hot nor Cold
Wall Street bonuses are no longer plummeting, although the “new normal” emerging now is below the industry’s pre-recession heyday. “The revenues of these firms just aren’t good enough. There’s a pretty good alignment between pay and performance,” said Alan Johnson, managing director at consulting firm Johnson Associates Inc. NBC News / November 12, 2012 READ…
Read MoreWall Street Bonuses Set to Rise After ’11 Declines
Wall Street workers, whose bonuses and year-end incentives fell by as much as 30% last year, will see slightly bigger bonuses and stock awards in 2012. “The recovery in financial services continues to be a struggle, and while incentives will be modestly up, few professionals will have reason to cheer,” says Alan Johnson, managing director…
Read MoreBonuses on Wall St. Expected to Edge Up
Wall Street employees, whose paychecks have often been cut in recent years, are likely to get a slight bump in their bonuses this year. The catch: the increase will come on top of one of the worst years for bank pay in recent memory. Year-end incentives, which include cash bonuses and stock awards, will be…
Read MoreWall Street Pay Rises – Bonuses Are Still Below Levels Before Financial Crisis
Wall Street pay will bounce in 2012 from last year’s sharply reduced levels, but bonuses will be lower and have more strings attached than before the financial crisis, the latest tally of finance-industry compensation shows. So-called incentive-based pay, which includes cash and stock awards, is set to climb 5% to 10% from a year earlier,…
Read MoreWall Street’s Puzzle: How to Cut Costs and Still Pay Well
J.P. Morgan Chase & Co.’s third-quarter results highlight a Wall Street juggling act: how to contain costs amid soft growth and volatile markets without losing highly paid, sought-after workers. The New York company’s investment bank showed a 12% rise in compensation expense in the period ended Sept. 30, to $2.07 billion, while headcount in the…
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