Some bankers / traders will have to wait another 12 months for all their variable pay.
In the meantime, efinancialcareers reported earlier this week that there been reports that Deutsche Bank’s bonus pool would be down 25% to 30% for last year and that 2015 would mark a nadir for the German bank’s bonuses. Fortunately, co-CEO John Cryan has been kind: Handelsblatt reports that Deutsche Bank’s 2015 bonus pool will in fact be down by the merest 15%.
Cryan’s kindness nonetheless leaves Deutsche’s bankers more harshly treated than Barclays’ (bonus pool down 8%), but more gently treated than traders at Credit Suisse (bonus pool down 36%). However, the pain at Deutsche will not be evenly distributed. Handelsblatt says Deutsche’s 250 most senior bankers will be dealt the most punitive cuts and that “some divisions” have had their bonus pools reduced by 30%.