While trading revenues are down this year and many financial companies are still suffering losses, bonuses for employees in financial services will rise this year, according to an article in the New York Times. Even in difficult years, Wall Street continues to pay out large bonuses, in order to keep employees from leaving to find positions at other firms. According to a survey by Wall Street compensation expert Alan Johnson, asset management employees, executives in private equity and those in retail banking will see a rise in pay – some by as much as 15 percent. And, while fixed-income and equity traders could see compensation cuts, overall, compensation in financial services should rise by about 5% this year. So, in addition to first-quarter salary increases, a less competitive applicant pool, and an increase in opportunities for MBAs, this is yet another reason why now may be the time to apply to business school. That is, if you are interested in finance…
Read the full article: MBA News: Wall Street Bonuses Up This Year
Related Articles
- » College Applications Increase, Early Decision Rates Up
- » New HBS Dean talks of competence, character, internationalism, and dirty boots. Adcom will follow suit
- » Friday Factoid: Sloan’s Charity Auctions
- » Campus Chronicles: Stern Opportunity
- » Finance MBA in the post-recession era: The evolution of Finance programs in top MBA schools