It's not all doom and gloom.
Bloomberg News reports that Credit Suisse raised some of its senior Asia-Pacific investment bankers’ pay last year by as much as 15% after the firm boosted advisory revenues in the region, according to people familiar with the matter.
Average total 2016 compensation, including bonuses, for high-performing managing directors at the bank was between $1 million to $1.5 million, said the people, who asked not to be identified because the details are confidential.
Analysts and associates focusing on the advisory and underwriting business in Asia on average received about a 20% increase, they said.
For the fourth quarter, revenue at the Asia-Pacific advisory business jumped 44 percent, compared with an overall 12 percent drop in regional investment-banking revenue that was fueled by a slump in fixed-income sales and trading.
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