The Wall Street Banker Bonus Pool Is Really Looking Dismal This Year

swimming pool

Bad news, bankers.

It looks like the bonus pool is really going to stink this year.

Annual compensation for Wall Street bankers may plummet between 27-30% compared to last year, the Wall Street Journal reported citing a compensation survey from Option Group.

Even more disappointing for Wall Street is bonuses, which make up a majority of bankers’ compensation, are expected to tank between 35-40%, the report said.

To provide more context, if you’re an investment-grade-bond trader who is a managing director at a top firm you’re going to probably take home around $1.7 to $1.8 million this year, compared to $2.9 million last year, the report said. 

And some Wall Streeters might not even be that lucky because a few banks have been considering zero bonuses this year, according to news reports.

Still, amid massive layoffs hitting most firms, Wall Streeters who are receiving a lower bonus or annual compensation should breathe a sigh of relief that they still have a job.

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