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Bonus season not looking bright for private equity, Wall Street: report
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The financial community may not have a happy holiday as this year's bonus season may not look anything like last year.
Wall Street compensation consulting firm Johnson Associates is flashing a caution signal to fund managers, bankers and brokers when the time arrives for those annual checks.
Payouts for private-equity fund managers could drop as much as 15% this year compared with 2021 while public equities investment managers could endure cuts of as much as 25%, according to the Wall Street Journal.
Investment bankers at the largest institutions stand to absorb the sharpest cuts of as much as 40%, the firm added.
ACCOUNTING ERRORS TO COST EXECUTIVES THEIR BONUSES UNDER SEC RULE