Don't want to get anyone upset over nothing or be unnecessarily alarmist but there is a slight possibility that shitty earnings may translate to shitty bonuses.
London and Wall Street bankers look set to get slightly lower bonuses for 2014 than the year before, based on pay details released this week by big U.S. banks and expectations in the industry. Goldman Sachs said on Friday its staff were paid $12.69 billion in compensation and benefits for 2014, up 0.6 percent on 2013. That equated to an average of $373,000 for its 34,000 employees, down 2.6 percent after it added staff in the year. JPMorgan said pay in its corporate and investment bank (CIB) for 2014 fell 4 percent from 2013. It reduced staff during the year, so average pay for the 51,129 CIB staff was $204,000, down 1.5 percent on the year. Citigroup is expected to reduce the bonus pool for traders by about 5-10 per cent and its advisory bankers can expect a modest increase, a person familiar with the matter said. The bank, which told staff their awards on Friday, did not break out pay for its investment bank in its results. Bank of America said its total personnel costs fell 2.7 percent last year from 2013 but did not break out pay for investment banking.