Do bankers still earn too much money ?
Investment bankers in London’s financial centre expect an average bonus of $36,000 this year, about a quarter of the compensation predicted by employees at private-equity firms, according to a recruitment company.
Bloomberg News reports that private-equity employees had the highest expectations, predicting an average bonus of $153,168, or about 71% of their salary, according to the survey of more than 1,000 City of London staff conducted by Astbury Marsden.
Private bankers and wealth managers forecast a bonus of about $87,077, or 60% of their salary.
Europe’s largest banks have been hurt by European Union rules capping bonuses at twice annual salary, while tougher capital requirements have prompted firms to eliminate thousands of jobs and scale back their securities operations. At Deutsche Bank, co-CEO John Cryan has said that bankers still earn too much money.
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