Monday, 23rd November 2009

 

5 November 2009 - Press Briefing

Survey predicts 40% hike in year-end bonuses for Wall Street workers

Wall Street workers are poised to secure a nearly 40% hike in their year-end incentive compensation, a widely observed survey scheduled to be released on Thursday by Johnson Associates, a New York-based pay consulting firm, will show, according to a report in The Wall Street Journal.

The study estimates that rebounding businesses such as fixed income and equities will account for the largest increases in cash bonuses and equity awards. Those incentive-based payouts are expected to soar by up to 60% from last year, the survey found.

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Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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Chopard out to show it has good timing

Luxury brands that thought they were immune to the vagaries of the global economy because they marketed their wares to the wealthy, have had a rude awakening this year.

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