Bonuses for bankers may be back at their pre-crisis highs in the U.S. but, across the Atlantic, they’re still stuck where they were after the collapse of Lehman Brothers - and they’re shrinking, according to a study by law firm Linklaters.
Bloomberg News reports that discretionary awards in the U.K. for 2017 amounted to $19.6 billion, little changed from 2008, Linklaters said. They’ve fallen 9% over the past three years, when a European Union rule limiting bonuses to twice the level of fixed pay came into force, the law firm said.
By contrast, the bonus pool for U.S. banks stood at $31.4 billion for 2017, the largest since 2007 and up by 78 percent from the year the crisis reached its peak. That followed a vintage year for U.S. markets, which performed strongly after the election of Donald Trump as president at the end of 2016.
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