Wall Street high rollers are expecting big bonuses at year-end -- especially hedge fund managers and executives at boutique banks.
Sixty-two percent of the 1,098 Wall Street executives that eFinancialCareers.com surveyed expect the same—or higher—bonuses this year. This is down from last year, however, when 71% anticipated that their annual bonus would increase or remain level.
The falloff is principally due to less optimism among large bank employees, eFinancialCareers.com said.
Conversely, nearly one-third, 30%, of Wall Street executives are bracing for lower bonuses, up considerably from 20% last year. They pointed to firm performance and market conditions as the main reasons their payouts are likely to decline.
Fifty-two percent blamed Dodd-Frank’s weighting of compensation toward base salary rather than bonuses for resulting in smaller paydays and layoffs on Wall Street.
-- This article first appeared on Money Management Executive.