Trump Tariffs Could Cost Wall Street Its Bonuses

Most Wall Street workers are expected to see some decline in compensation, but IPO bankers are estimated to see their bonuses fall the most — as much as 20% from last year — according to compensation consulting firm Johnson Associates.

That compares to a jump of as much as 25% in bonuses for these same IPO specialists that Johnson Associates initially forecast at the end of last year.

“Hopefully, we’re going to look back in three months or six months and say that we were wildly wrong and that things are a lot better,” Alan Johnson, managing director of Johnson Associates, told Yahoo Finance in an interview.

“That’s what we always hope, but I wouldn’t bet on it,” he added.

Yahoo! Finance / May 9, 2025