Are S&T bonuses wiped out this year?
Do you think with Banks managing costs and not letting people go, there will be little to none bonuses this year?
Some exceptions would be for equity vol and some rates traders at certain banks, but I get the impression that my group is getting no bonuses this year.
bump. also curious.. markets revenues must be up, and even for some product groups (DCM specifically) on the back of the Fed back stopping IG, HY, and evening muni issuance.. question is will that offset consumer banking losses (assuming you’re at a Balance Sheet bank)?
further - will perception play any role in this years decision? the headline “traders to receive record bonuses amid 20% unemployment” on the front of the Wall Street journal will only further drive a stake in the divide between Wall Street and Main Street, and may only further hurt Wall Street in terms of regulations. will banks try to avoid that from a PR standpoint?
both good questions I don’t know the answer to. but looking forward to the discussion.
I think banks will get shit no matter what. Event if bonuses are down 30% the bottom-dweller journalists will just make a title with the absolute number instead of relative... "Wall street pays XX billions in bonuses amid food stamp crisis".
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