You remember it? You've got it in your head? Okay, good.
Wall Street bonuses could fall more than 10 percent this year after declines in fixed-income trading revenue and China’s currency devaluation hurt profits, Stifel Financial Corp (NYSE:SF). Chief Executive Officer Ronald Kruszewski said. “I think they could be down more,” Kruszewski said Tuesday in an interview on Bloomberg Television when asked about estimates that payouts could drop 5 percent to 10 percent. “I’m not sure people have factored in the debacle that occurred in fixed income in the third quarter.” “It was a tough summer...People forgot about China and the devaluation and all that was going on, so this is not necessarily a year to write home for.”
Having said that, if you are currently employed by Deutsche Bank (NYSE: DB) or Credit Suisse (NYSE: CS), a ten percent drop would bea dream, so, y'know, it's all relative, etc.
Wall Street Bonuses Could Drop More Than 10%, Stifel CEO Says [Bloomberg]
Related: Bonus Watch ’15: Hey, Remember That Investment Bank Credit Suisse Bought In 2000? It’s Coming Out Of Your Paycheck; Deutsche Bank Bonus/Layoffs Watch ’15: The Bonus Is You Get To Keep Your Job;
