Year-end bonuses are expected to be much lower this year than in the bonanza of 2021, according to projections released Tuesday morning.
The big picture: It's been a hard year. M&A slowed, IPOs dried up and revenue declined.
- Investment bankers are expected to do the worst, with bonuses plunging as much as 45%. No surprise given the drop-off in deal-making.
- "Economic headwinds showed no signs of abating," Alan Johnson, managing director of Johnson Associates, which released the estimates, said in a statement.
Our thought bubble: At least they're not getting paid in crypto.