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Workers at traditional asset management firms can expect even smaller bonus payments than last year, against a backdrop of rising interest rates, inflation and disparate performance across sectors, compensation consultancy Johnson Associates forecasts. Despite increases in assets under management across traditional firms and efforts to rein in costs, Johnson Associates projects a 5% to 10%…

“It’s not a dire scenario, but banks are paring back the excesses from the last years and feel they are moderately overstaffed,” said compensation consultant Alan Johnson, who owns a consultancy that specializes in Wall Street pay… Compensation was even lower for U.S. investment bankers, whose bonuses shrank about 30% to 50% from 2021 as…

“This year is abnormally bad,” said Alan Johnson, managing director of Johnson Associates. “I think there will be a fair number of unhappy people. Some people will look for other jobs… But there will be layoffs, too.” But Johnson says you should be concerned by the news even if you don’t work in finance. Some…

According to Chris Connors, vice president at Johnson Associates, this year is unique due to declines in both equities and fixed income. “There’s kind of a double whammy in that the equities markets are down significantly, but also the fixed income market is down significantly,” he said by phone Monday. “That in tandem is hard…

“It’s a cyclical business, and it fell off of a cliff this year,” Alan Johnson, managing director of Johnson Associates, said in an interview. “There will be a lot of unhappy people by the end of the year.” “We’ve gone from red-hot labor markets to a cool-down to layoffs,” Johnson said. There are some bright…

“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 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…

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…

‘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…

“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…