For Wall Street’s bond traders and investment bankers, prospects for year-end bonuses are improving.
Incentive pay for fixed-income sales and trading personnel may fall as much as 10 percent and may even hold steady compared with last year, compensation consultant Johnson Associates Inc. said in a report Monday. That’s better than the 10 percent to 15 percent decline projected in August and a drop of as much as 20 percent expected in May.
The outlook for bankers who sell debt or equity on behalf of corporations has also improved, with year-end bonuses forecast to fall 10 percent to 20 percent, compared with the 15 percent to 25 percent decline projected in August. Bankers offering merger advice will see their compensation fall 5 percent to 10 percent, Johnson estimated. That’s improved from a projected decline of as much as 15 percent in August.
To me, a decline is still a decline, even if it's one that's less than expected, but then, I'm not a trader. If you are, and you've been holding off buying a house while waiting for good economic news, here's your chance. An optimist like you probably also believes Hillary's going to stay bought after her election, so now you have two excuses to get that house you so truly deserve. Call me: we'll find it.