Banker Bonuses: Spot The Odd One Out
Bankers in London, Europe's trading hub, are bracing themselves for significantly lower bonuses (and salary cuts) especially so relative to their New York counterparts. As Bloomberg Businessweek notes in the brief clip below, investment bankers and traders should expect a 15% pay cut compared to unchanged in the US and while hope is that these are temporary, many believe this shift is structural and reflects "US regulators [not having] the same obsession with pay structures that European regulators have." As is evident from the chart below, there are winners and losers (and we bet you can guess who the winner is).
Looks like Goldman wins, UBS loses, and even with a huge drop in revenues Morgan Stanley is being generous...
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