Now that we’re nearly halfway through October, several items on your to-do list will have undoubtedly been upgraded in urgency: scouring Starbucks near and far for for Pumpkin Spice lattes before it’s too late, and being dead serious in telling the baristas at the various locations claiming unavailability that they’ve ruined your life; coming up with a Halloween costume that’s at once slutty and topical; and discussing bonus expectations. Despite the fact that bank CEOs and people who speak on their behalf have suggested (by saying outright) that pay will come down this year, and that anyone who still has a job in 3-4 months should consider that their bonus, some on Wall Street are apparently predicting they’ll do pretty well for themselves this year and very well circa 2015.
There seems to be a disconnect between what Wall Street execs have been reading lately and what they believe. Nearly half (48%) of them surveyed by eFinancialCareers expect their bonus to be higher this year despite recent news reports to the contrary…Of those who believe bonuses will increase in the next three years, over half (53%) are convinced bonuses will return to 2006-2007 levels.
For those not as confident their take-home will soon revert to the glory days and looking to make a change into a more lucrative field Bloomberg today notes that “welders top banking pay.”*
Despite news reports that Wall Street bonuses will be down, more Wall Streeters are expecting them to be higher [eF]
Wall Street to Cut Pay Instead of Jobs, Graseck Says [BW]
Caterpillar’s Worker Hunt Means Welders Top Banking Pay [Bloomberg]
Related: Layoffs/Bonus Watch ’12/’13: Morgan Stanley
*…Though not until paragraph 15 is it made clear that they’re actually talking about the pay of ‘bank tellers,’ which: what? 1) I think most people could have told you a union welder would make more than a bank teller, just as they could probably make the educated guess that doctors, lawyers, hedge fund managers and particularly sought-after dog walkers fare better than BTs on pay day, since bank teller ≠ banker and 2) To that end, is this a new series? Jobs you may or may not have known pay more than $47,900/year? Because while very servicey for all the bank tellers reading who’ve been thinking about making a jump, it seems less than helpful to the core audience.