I’m so relieved. “Wall Street bonuses safe from volatility” MarketWatch tells us.
Compensation will be hit by firm-wide financial losses from loan-related fees and write offs. Those losses will be offset by the seven- to eight-month build up of the bonus pool
So nice to know they’ve been thinking ahead, at least in this case.
Bankers also can expect to see more options in compensation packages.
The poor diddums. (At least, I assume this isn’t as nice as a few million in plain cash.)
“The growing divergence in incentive pool increases and compensation levels between major firms and broader comparators continues.”
Translation: Executives’ bonuses and their actual performance in the market (“broader comparators”) have less and less to do with each other.
[A series of the biggest brokerage firms] have set aside more than 45% of revenue for compensation and benefits