tech 没了 IPO， IB PE 也变瘦
Job cuts and smaller bonuses loom for Wall Street amid collapse in IPOs and stock issuance
Investment bankers hit with a collapse in equity and debt issuance this year are in line for bonuses that are up to 50% smaller than 2021 — and they are the lucky ones.
Pay cuts are expected across wide swaths of the financial industry as bonus season approaches, according to a report released Thursday by compensation consultancy Johnson Associates.
Bankers involved in underwriting securities face bonus cuts of 40% to 45% or more, according to the report, while merger advisors are in line for bonuses that are 20% to 25% smaller. Those in asset management will see cuts of 15% to 20%, while private equity workers may see declines of up to 10%, depending on the size of their firms.