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U.S. bankers prepare for shorter bonuses
The Guardian
U.S. bankers and traders should prepare for a 30-40 percent decrease in their annual bonuses, reports The Guardian. In the current climate of job and credit losses, they may be well advised to accept the cuts and hope for a market upturn in 2009, warn experts. “The assumption going into this year is that you can take your base salary or severance. That’s the choice. There’s a resignation in the market,” explains Robert Sloan, a consultant at Egon Zehnder International, New York. The volume of opportunistic hiring has also fallen, adds Sloan. |
