2014: the year of the big bonus - not

No Pot Of Gold

Almost half of all finance professionals expect bonuses to be smaller this year, if they get one at all, according to a Bloomberg Global Poll.

Bloomberg News reports that 27% of those surveyed said they foresee this year’s payout dropping compared with 2013, while 18% said they don’t expect one, according to the quarterly poll of 562 investors, analysts and traders who are Bloomberg subscribers. 32% said they look forward to getting a larger bonus, the July 15-16 poll showed.

Goldman Sachs, JPMorgan and Citigroup were among Wall Street firms cutting the amount of money set aside for employees in the first half as revenue from businesses including trading and mortgage lending fell. Still, many of the world’s key stock markets are up for the year and fees from underwriting and merger advice have surged.

'If the profit potential of the institution has been clipped by regulation or the market opportunities are contracting, you can extrapolate that to how much you pay your staff', Daniel Baker, 50, a poll respondent and analyst for Informa Global Markets, said in a phone interview.

To access the complete Bloomberg News article hit the link below:

Finance Industry Bonus Hit in Poll as Revenue Disappoints

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