If you answered "WTF else would we be in this business for," maybe sit down and grab a paper bag to breathe into.
Bonus pools could decline by as much as 20 percent for some Wall Street workers this year, with incentive pay falling at almost every type of financial-services firm, according to compensation consultant Johnson Associates Inc. The sharpest drop probably will be in fixed-income sales and trading, as well as investment-bank underwriting, which may tumble 15 percent to 20 percent from a year earlier, Johnson Associates said Tuesday in a report. Those in investment-banking advisory services and management positions at banks could see declines of 10 percent to 15 percent, the consultant said...Hedge fund firms may cut bonus compensation by as much as 15 percent, while other asset managers probably will see a drop of 5 percent to 10 percent in their compensation pools, Johnson said. Private equity firms and high-net-worth managers are expected to scale back slightly less, paring bonus pay 5 percent.