Feeling confident on the bonus front ?
This was a great year on Wall Street to help buy and sell drug companies. Distressed debt and mortgage-linked securities? Not so much.
Bloomberg News reports that firms are preparing to lavish this year’s biggest raises on health-care bankers, who will probably see a 20% bump on average, according to an Options Group report projecting this year’s biggest pay swings.
Other winners include telecommunications, media and technology bankers and traders of rates options and equity derivatives - all getting 15% more than last year. Traders of distressed debt and fixed-rate collateralized mortgage obligations may see their compensation tumble 25%.
A wave of health-care and tech deals has helped propel total corporate takeovers past $3.1tril so far this year, threatening to break 2007’s record. While equities traders may see compensation rise by 7% on average, the picture is mixed for employees on fixed-income desks: Credit and commodities traders may suffer double-digit declines, while rates and currency traders get a 5% boost, according to Options Group.
To access the complete Bloomberg News article hit the link below: