Shrinking bonuses leave traders disappointed

No Pot Of Gold

Even after gas had its worst year since 2009 and coal slumped the most since 2007, European energy traders were disappointed by their bonuses for last year.

Bloomberg News reports that additional compensation last year was on average 42 percent lower than expected, according to a survey of 650 coal, gas and power traders polled by Commodity Appointments Group, a recruiter based in Petersfield, England. The median was 33,815 pounds ($51,446), with gas traders getting the most and coal traders the least, the data showed.

Banks from Morgan Stanley to Bank of America Corp. have shut energy-trading desks in Europe amid increasing regulation and slumping prices, which have dropped further this year. That’s meant fewer roles with the potential for the biggest payouts, according to Shaun Smart, principal associate at Commodity Appointments.

Hit the link below to access the complete Bloomberg article:

Shrinking Bonuses Leave European Energy Traders Disappointed

Deutsche Bank Wins Bid to Throw Out Ex-Trader’s Bonus Suit

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