f
  •  
© Reuters. A member of the homeless community walks past a Hyatt hotel that is completely closed to guests during the coronavirus disease (COVID-19) outbreak, in Washington © Reuters. A member of the homeless community walks past a Hyatt hotel that is completely closed to guests during the coronavirus disease (COVID-19) outbreak, in Washington

(Reuters) - Bonuses for a large share of Wall Street workers are expected to fall up to 25% this year and job cuts are likely to continue into 2021, a report by compensation consulting firm Johnson Associates Inc said.

Workers in the retail and commercial divisions of many large banks are expected to see lower bonuses as banks have had to set aside billions in reserves to cover loan defaults due to shutdowns and unemployment caused by the COVID-19 pandemic.

However, those estimates were less severe than the up to 30% cut Johnson projected in August. (https://reut.rs/2ZHNLxH)

Workers in insurance and asset management could see a 10% to 15% fall in bonuses this year, according to the report, which is closely watched by financial professionals.

Johnson estimates the industry headcount to be 10% lower in July 2021, compared to February 2020, while compensation for chief executives will also face more scrutiny this year.

Traders at major banks, however, could see their bonuses surge up to 30% this year, the report said, as they handle record-high volumes of transactions from investors looking to benefit from the volatile capital markets.

Underwriters and workers in fixed income departments could also see their bonuses improve, the report said.


Other relevant articles 
[2020-09-15 16:00:07] Wall Street Opens Higher Lifted by Tech IPO Buzz; Dow up 125 Pts
[2020-09-15 15:55:03] Wall Street Opens Higher Lifted by Tech IPO Buzz; Dow up 125 Pts
[2020-09-14 13:20:22] Wall Street fundraisers turn into wallflowers during 2020 U.S....
[2020-09-12 12:55:15] Wall Street Week Ahead: Fed meeting in focus as stocks wobble and...
[2020-09-11 22:20:12] Wall Street Higher as Cyclicals Step Up Amid Tech Wreck
[2020-09-11 22:20:12] Wall Street Higher as Cyclicals Step Up Amid Tech Wreck
[2020-09-11 20:45:12] U.S. Budget Gap Tops $3 Trillion With Fiscal Year Almost Over
[2020-09-11 15:45:12] Wall Street Opens Higher as Oracle, Peloton Restore Faith in Tech Growth
[2020-09-10 15:55:07] Wall Street Opens Higher as Stocks Shrug off Weak Jobless Data; Dow up 190 Pts
[2020-09-10 13:10:10] Singapore Airlines to cut 4,300 jobs due to pandemic, most in its...
[2020-09-10 08:30:07] European Stocks Mostly Higher; ECB Looms Into View
[2020-09-10 02:10:10] Asian markets seen firmer after Wall Street turns positive
[2020-09-09 22:05:08] Oil Jumps Most in a Day Since June, Snapping Red Streak For Now
[2020-09-09 22:05:08] Oil Jumps Most in a Day Since June, Snapping Red Streak For Now
[2020-09-09 18:15:07] Palantir begins Wall Street charm offensive ahead of public...
[2020-09-09 15:45:07] Wall Street Opens Higher as Nasdaq Bounces After Rout
[2020-09-09 03:35:06] Asian markets set to come under pressure after another down day on Wall Street
[2020-09-08 16:05:03] Tech Stocks Sell Off Further as Wall Street Opens; Nasdaq Falls 255 Points
[2020-09-08 15:45:03] Tech Stocks Sell Off Further as Wall Street Opens; Nasdaq Falls 400 Points
[2020-09-08 06:15:04] Exclusive: Exxon downsizes global empire as Wall Street worries...
[2020-09-07 05:30:23] Asian Stocks Mostly Down, China Releases Mixed Export and Import...
[2020-09-06 00:20:17] MetaMask finally escapes the desktop with new mobile wallet
[2020-09-05 17:00:18] Bitcoin Crashes. You’ll Be Surprised To Hear What’s Next
[2020-09-04 16:05:10] Wall Street Whipsaws in Early Trade as Rebound Prompts Fresh Tech Selling
[2020-09-04 15:45:10] Wall Street Opens Higher; Tech Selling Reverses After Payrolls Data
[2020-09-04 14:25:10] Wall Street Week Ahead: U.S. stock market surge may run into...
[2020-09-04 08:15:11] European Stocks Seen Mostly Lower; U.S. Payrolls Eyed
[2020-09-04 05:50:20] Asian stocks slip after Wall Street selloff dents tech rally
[2020-09-03 15:50:07] Wall Street Opens Mostly Lower as Profit-Taking Hits Tech; Dow up 18 Pts
[2020-09-02 16:50:07] Exclusive: EU draft plan targets free carbon credit cut for most...
[2020-09-02 15:50:07] Wall Street Opens Higher, Shrugging off ADP Disappointment
[2020-09-01 16:25:03] U.S. construction spending almost flat in July: Commerce Department
[2020-09-01 16:00:07] Wall Street Opens Mixed as Tesla Stock Offering Hits Market
[2020-09-01 15:25:14] Zoom shares soar; Wall Street warns of risks when pandemic eases
[2020-09-01 05:50:06] Asian Stocks Mixed Following Wall Street’s Overnight Retreat
[2020-09-01 02:30:26] Asian stocks edge lower after Wall Street dips in month-end trade
[2020-08-31 21:25:24] Treasury Says Most Stimulus Payments to the Dead Recouped
[2020-08-31 18:25:22] Bannon co-defendant expected to plead not guilty to border wall fraud
[2020-08-31 15:55:22] Wall Street Opens Mixed as Apple, Tesla Trade Post-Split; Dow Down 114 Pts
[2020-08-28 17:20:11] Walmart wants to go viral with TikTok, Wall Street thinks it can
[2020-08-27 15:45:08] Wall Street Opens Higher as Powell Flags Easier Money; Dow up 116 Pts
[2020-08-27 15:05:12] Wall Street futures fall as jobless claims hover at one million...
[2020-08-27 04:05:17] Australia second-quarter business investment contracts by most in...
[2020-08-26 15:40:07] Wall Street Opens Mostly Higher, Nervously Eying Fed
[2020-08-26 13:30:07] Wall Street strategists see market back-pedaling by year-end,...
[2020-08-26 12:55:06] Wall Street futures flat as investors weigh grim data, await...
[2020-08-25 19:40:15] Wall Street Slips as Consumer Wobble Reins in Bulls
[2020-08-25 15:50:03] Wall Street Opens Flat, Paring Gains as Hurricane Threatens Gulf
[2020-08-25 12:30:05] Wall Street futures higher after U.S.-China trade deal assurance
[2020-08-25 12:20:03] UK retailers cut jobs by most since 2009, CBI says
[2020-08-24 15:55:22] Wall Street Opens Lower as Virus Cases Drop; Dow up 150 Pts
[2020-08-24 13:00:26] Wall Street futures rise on approval of plasma treatment for...
[2020-08-24 12:45:22] Global companies raise most funds for the month of August in a...
[2020-08-21 19:45:11] U.S. Oil Rig Count Jumps By 11, Most In Months, Weighing on Crude
[2020-08-21 15:40:11] Stocks - Wall Street Opens Mixed as Rally Runs out of Steam
[2020-08-21 15:15:11] Wall Street set to drop at open; business surveys on deck
[2020-08-21 02:25:10] Asian stocks set to rise after Wall Street tech-driven rally
[2020-08-21 02:20:10] U.S. economic recovery outlook steady even as Wall St touches...
[2020-08-20 17:25:07] Fear fading on Wall Street as investors learn to love the new...
[2020-08-20 15:45:07] Stocks - Wall Street Opens Lower as Jobless Claims Darken Mood; Dow Down 120 Pts
[2020-08-20 13:00:19] Wall Street futures extend slide on Fed jitters, jobless claims...
[2020-08-20 07:55:21] Bulls move deeper on most Asian currencies on recovery hopes:...
[2020-08-20 05:30:07] Asian stocks, oil buckle on uncertain U.S. recovery
[2020-08-19 20:55:09] Wall Street Underestimates U.S. Consumers and Their Wallets
[2020-08-19 15:50:13] Wall Street opens slightly higher on strong retail earnings
[2020-08-19 09:40:10] European shares weaken after Wall Street rally as growth worries persist
[2020-08-19 02:55:25] Hedge fund Third Point sells most of its shares in Sony: Nikkei
[2020-08-19 02:35:06] Asian stocks tick up after Wall Street cracks more records
[2020-08-18 15:45:04] Stocks - Wall Street Opens Higher After Strong Housing Data; Dow up Pts
[2020-08-18 14:25:03] Europe stocks get travel boost, dollar slides on stimulus concern
[2020-08-18 13:05:04] Wall Street futures rise as Home Depot results shine; Walmart on...
[2020-08-18 12:10:03] Wall Street holds the cards as Main Street chases blank-check...
[2020-08-18 04:00:05] Oil Trends Lower, Despite OPEC+’s Almost Full Compliance With...
[2020-08-17 15:55:22] Stocks - Wall Street Opens Higher on House Price Surge; Dow up 36 Pts
[2020-08-17 13:10:22] Wall Street futures tick up ahead of big retail earnings week
[2020-08-17 02:10:21] Stock futures point to modest Wall Street gains ahead of big retail earnings...
[2020-08-14 21:35:12] Wall Street Week Ahead: Biden victory? Disputed election? Wall Street prices in November outcomes
[2020-08-14 17:30:12] U.S. Productivity Jumps Most Since 2009 as Hours Worked Plunge
[2020-08-14 13:00:15] Wall Street futures retreat as China data disappoints
[2020-08-13 15:40:07] Stocks - Wall Street Opens Mixed As Jobless Claims Hit 5-Mo Low; Dow Down
[2020-08-13 07:35:06] Exclusive: China pushes First Capital merger in drive to take on...
[2020-08-13 05:25:06] Asian stocks grind higher, dollar slips as U.S. data brightens mood
[2020-08-12 18:50:07] Mauritius says almost all oil removed from damaged Japanese ship
[2020-08-12 18:00:10] Wall Street Fears This Stock Rotation Is Another False Dawn
[2020-08-12 15:50:07] Stocks - Wall Street Opens Higher as CPI Points to Rebound; Dow up 260 Points
[2020-08-12 14:40:09] Opening Bell: Futures, Global Stocks Ignore Wall Street Dip; Gold Rebounds
[2020-08-10 15:50:23] Stocks - Wall Street Opens Higher on Stimulus Hopes; Dow Rises
[2020-08-10 14:20:22] Wall Street bonuses likely to tumble, job cuts to start in late...
[2020-08-10 03:10:22] Australia reports biggest one day rise in new COVID-19 deaths
[2020-08-07 23:10:13] Wall Street Week Ahead: Bargain-hunters look to U.S. real estate...
[2020-08-07 15:50:12] Stocks - Wall Street Opens Lower as Payrolls Fail to Impress; Dow Down 66 Pts
[2020-08-07 15:40:11] Stocks - Wall Street Opens Lower as Payrolls Fail to Impress; Dow Down 66 Pts
[2020-08-07 11:30:11] Dollar most oversold in 40 years, says Morgan Stanley; exits...
[2020-08-06 16:25:07] Stocks - Wall Street Opens Mixed as Jobless Data Fail to Inspire
[2020-08-06 09:05:09] Long bets on most Asian currencies rise as U.S. recovery doubts...
[2020-08-05 22:15:08] Wall Street Rallies as Bulls Feast on Stimulus, Vaccine Optimism
[2020-08-05 10:45:07] Record drop in Swedish GDP is still better than most of Europe
[2020-08-04 18:15:04] VIX Flashes Most Enticing Short Since 2012 in the Month of Fear
[2020-08-03 15:50:23] Most optimistic Brazil GDP outlook in over a month: central bank survey
[2020-08-03 15:30:26] Earnings, Microsoft set to boost Wall St. as investors await stimulus