Hedge fund bonuses are expected to be so good in comparison to bank bonuses this year that the discrepancy skewed the results of a compensation survey.
The online recruiting company eFinancialcareers took a survey of the bonuses expected by Wall Street professionals (including hedge fund employees).
More than six in 10 (62%) of the 1,068 Wall Streeters surveyed expect their bonus this year will be higher or the same in comparison to last year’s bonus.
But according to eFinancialCareers, that number is totally skewed by hedge funders expectations.
The press release says:
As Wall Street works its way toward the end of a turbulent 2011, the bonus expectations of U.S.-based financial markets professionals remain relatively high, driven by steep expectations of stronger bonuses by hedge fund, boutique bank and professional services firm employees.
The survey shows that 41% of all employees surveyed expect a higher bonus, while 30% expect a lower bonus.
eFinancialCareers also separated those results by industry, which makes the discrepancy between hedge fund employees and bank employees evident. eFinancialCareers says this year, while only 36% of bank employees expect higher payouts, 38% expect lower bonuses.
In other words, either hedge funders’ high expectations, or the bank employees’ low expectations seem to have thrown off the survey. The majority of bank employees are expecting lower bonuses this year. But overall, according to the survey, Wall Street employees are expecting higher bonuses.
According to many other reports about low bonuses on Wall Street, it’s probably the latter.
SEE ALSO: How To Get A Job At A Hedge Fund >>