Falling revenues behind expected 40% plunge
(NEWSER) - The latest news from Wall Street is likely to leave most ordinary Americans dry-eyed. Year-end bonuses for bankers and traders are expected to be down sharply this year, plunging up to 40% to their lowest level since the financial crisis, according to a closely watched industry forecast. A bond trader who is also a managing director at a top securities firm would have received a bonus of some $2.9 million last year, but will have to make do with $1.8 million this year, the Wall Street Journal reports. More»
