Wednesday, 29 June 2016
Last updated 1 hour ago
Oct 10 2011 | 2:05pm ET
More Wall Streeters than not expect a smaller bonus this year—unless they work at a hedge fund.
While 38% of professionals at big banks are bracing themselves for a smaller bonus this year than last—compared to 36% who expect a larger one—about half of hedge fund pros are looking forward to a bonus bump, according to a survey by eFinancialCareers.com.
The pessimistic among the survey respondents blamed firm performance and market conditions overwhelmingly for their underwhelming bonus expectations. And more than a third blame the Dodd-Frank financial regulation law at least a little bit for the layoffs on the Street. And going forward, financial pros are even less optimistic, with 46% saying bonuses will decrease over the next three years, against just 20% predicting higher bonuses.