Wall Street bonuses to rise by up to 10% (unless you're in fixed income)

When it comes to compensation, it looks as if 2013 is going to be remembered as a pretty good year to have worked on Wall Street, unless you are a fixed-income trader.

The New York Times reports that financial advisers, asset managers and underwriting investment bankers can expect their 2013 bonuses to rise as much as 15%, according to a closely watched compensation survey to be released on Thursday.

Over all, Wall Street employees can expect year-end bonuses to grow 5 to 10% on average, the second consecutive year of increases, according to the survey, produced by Johnson Associates.

Bonuses for bond traders, who had a terrible year because of interest rate instability, could drop by just as much or more.

The predictions reflect a new reality for Wall Street’s biggest banks, whose fixed-income revenues have plummeted amid a choppy bond market. Banks including Morgan Stanley have expanded their wealth-management divisions, which generate fees from the assets they handle, to balance the instability from fixed income.

To access the complete New York Times article hit the link below:

Wall St. Bonuses Over All Are Predicted to Rise 5 to 10% (Bond Traders Excluded)

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