The bad news is that bank bonuses this year are estimated to drop 20% to 30% from 2010, and quite a bit more if you’re a bond trader. The good news is that 2012 should see some cash freed up, on account of all the people who will have been fired by then.
Wall Street bonuses are set to shrink by an average of 20% to 30% from last year, with even steeper declines for bond traders, according to a widely watched compensation survey. The projections, to be released Tuesday by consulting firm Johnson Associates Inc., reflect the tough times at many banks and securities firms since the spring…”This year started with great promise for a banner year on Wall Street, but hopes for larger bonuses faded over the summer and continue to dim as we approach year-end,” said Alan Johnson, managing director of Johnson Associates.
Lower bonuses will be widespread, with the average managing director taking home about $900,000, down from about $1.2 million in 2010…Fixed-income businesses will be the hardest hit, according to the projections. Bond traders are likely to take home as much as 45% less than in 2010, while equities traders and senior managers will see their bonuses 20% to 30% lower…There might be one silver lining. Pay trends could improve in 2012, because job cuts mean there will be fewer employees around to get bonuses.
Sooooo….what kind of numbers am I looking at? Ballpark.
-J. Corz
Where are the clients bonuses?
7-10, minus 10% for good behavior.
GG
$900K? That must be a misprint.
-UBS MD
No, the good news is that 30% of zero is zero.
-UBS MD
If I take home $900,000 I'm retiring
-UBS MD
As you may have heard, we already have a huge dicks so a bigger bonus is just overcompensating at this point.
-ex D2 Lax face-off specialists / Current Jeffries associates
It's working!! It's really working!!!
- (delusional) OWS protester
"have a huge dicks"
kill yourself
+1
Just wait motherfucker
Greatest silver lining ever:
A bunch of your buddies got fired so you MIGHT get a (largely deferred) bonus next year for doing double the amount of work.
imposter
If only we could have stopped bank transfer day, none of this would have happened
For what? Your night shift at Applebee's to be over?
I would just like to reiterate that 30 traders putting their balls on my forehead is not a bonus.
Thank you and godspeed.
Citations:
http://www.reddit.com/r/politics
http://politics.slashdot.org/story/11/11/08/13212...
Just read some of the comments. It is kind of like going to the zoo. They are such simple creatures.
I laughed so hard I couldn't click the thumbsup for a good two minutes.
I'm-a-Luigi!
You can laugh and click at the same time….
“Just read some of the comments. It is kind of like going to the zoo. They are such simple creatures.”
Pretty sure Marie Antoinette and Tsar Nicholas II thought the same thing.
Everything is ok son, this is an "extra special" bonus…
- Former Penn State coach
"These bankers are getting $900k bonuses and I can't even find a job."
- OWS protestor taking a break from power hour combo of whippits and bong hits
Hey Put I'm at KKR with the former gs prop desk. Meet me on Rector and I'll put my cock right up your mothrerfucking faggot ass. You big-mouthed pussy.
You blow OWS guys with that mouth?
Obviously
The particular Vaginal canal is really a power tool in the romantic relationship. With suitable traiing and exercise you will have a first-rate vaginal canal.
kegel exercises
I'm gonna guess you were the guy in GSPS who went to Ithaca College.
Get back to work, big guy.
omg youre so cool nice sarcasm!
atleast they stand for something, while you my dear stand for nothing. oh wait you spend your time making anonymous comments on deal breaker! And yeah, i do it it but atleast im not sh*tting on individuals who stand for something.
nice name pazzo83
awe too bad
next thing on the list salary caps!
http://www.endofwallstreetgreed.org
Standing for something is one thing. Hanging out in a park banging bongos, raping women, dealing/taking drugs and pissing on small businesses (literally) is not standing for something. If you asked 20 people of OWS what they want to get out of it, you'd get 20 different answers on a wide range of subjects. There is no organization, no goals and 95% of the group wouldn't understand the basics of what Wall Street does. Instead they'd rather paint everyone who works for a bank or investment firm as evil without realizing that not everyone who works for these firms pulls down millions of dollars in bonuses which is incredibly ignorant. If you can tell me what would end the protests and satisfy everyone, I'll buy you a new porto potty. I'm actually part of the 99% and would never in a million years associate with the the circus that goes on everyday at Zucotti Park…
Thumbs up. I'm pretty sure if you asked anyone in Zucotti Park to tell you the difference between a retail bank and an investment bank, you'd get a lot of blank stares.