According to compensation consultant Johnson Associates, U.S. investment bankers can expect their bonuses to decrease by 20% to 25% this year due to subdued markets. The report also states that bonus pools in debt and equity underwriting may remain flat or drop by up to 10%. Wall Street executives are hopeful that a surge in initial public offerings will revive activity in capital markets.
The gloomy outlook will also weigh on investment bankers in debt and equity underwriting, where bonus pools could stay flat or drop as much as 10%, the consultant wrote in a report on Monday.of initial public offerings as an encouraging sign that activity in capital markets will pick up after months in the doldrums.
But top bankers have also cautioned that it is too soon to call a lasting recovery, citing a litany of risks facing the economy, including interest rates, inflation and geopolitical tensions. Big banks' underwriting businesses are gaining momentum, but their advisory arms are unlikely to rebound until 2024, keeping a lid on incentive compensation, Johnson Associates said.
Bonuses for stock traders are projected to slip 5% to 10%, while bond traders could see their payouts rise or fall by 5%, the consultant said. Wall Street bonuses can vary widely. Payouts for employees in the securities industry in New York fell 26% to an average of $176,700 in 2022 from a record $240,400 in 2021,The Johnson Associates projections also highlighted the contrasting fortunes of large and small banks. Bonuses for retail and commercial bankers at major global institutions are likely to jump 10% to 20%, while incentive compensation at regional banks will slide 10% to 20%, the study showed.Lananh Nguyen is the U.S.
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