Things have been getting worse for the last couple of years, vis-à-vis bonus checks, and that’s before one even takes little things like clawbacks and decade-long vesting periods into account. This year will be no different, what with Brexit and Deutsche Bank and Deutsche Bank and other stuff. Next year, either. Or the one after that.
The payouts are projected to be from 5 to 10 percent lower this year, according to an annual report to be released on Monday by Johnson Associates, a compensation consulting firm. Bonuses fell about the same amount last year from 2014. The projection confirms a report last month by the New York State comptroller that said firms set aside 7 percent less for bonuses through the first half of this year compared with last year….
Alan Johnson, the founder of Johnson Associates, describes this pattern as a “malaise,” and one that is unlikely to reverse itself anytime soon.
“I don’t see it changing for the next year or two, either,” he said in a phone interview. “The pressures in the industry on profit and fees are going to continue, and I think pay will likely continue to decline in 2017.”