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Most Wall Street workers to get lower 2020 bonuses -study

Year-end bonuses for most Wall Street workers are expected to decline this year compared with 2019 due to the impact of the COVID-19 impact on the U.S. economy, compensation firm Johnson Associates Inc said on Thursday. Overall, incentives at the end of this year, which include cash bonuses and equity

NEW YORK, Nov 12 (Reuters) – Year-end bonuses for most Wall Street workers are expected to decline this year compared with 2019 due to the impact of the COVID-19 impact on the U.S. economy, compensation firm Johnson Associates Inc said on Thursday.

Overall, incentives at the end of this year, which include cash bonuses and equity awards, will generally decline, marking the second consecutive year of mostly smaller awards, the study shows.

Retail and commercial bankers will be the hardest hit, with their year-end incentive payments expected to decline at least 25% to 30% compared with last year, while investment banking…

Reuters

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