Investment bankers in the US also get lower bonuses.
(Photo: Bloomberg)
Denver, Frankfort Investment bankers have to brace themselves for lean times after the boom. After the record bonuses last year, the big wave of cuts is now coming. Wall Street bankers have to be prepared for up to 45 percent lower bonuses for the year 2022, according to an analysis by the personnel consultancy Johnson Associates. This has specialized in remuneration in the financial sector. If that were to happen, it would be the biggest slump since the 2008 financial crisis.
Also in the Frankfurt banking district one has to reckon with lower bonuses. Nils C. Wilm, Managing Director at Bankenwelt Executive Search, says: “We are seeing a cross-industry reduction in bonuses of 20 to 30 percent compared to the previous year in German investment banking.”
In 2022, German investment banking still benefited from the world’s second-largest IPO of Porsche AG in 2022 for 8.7 billion dollars. And the German dealmakers also made money from the German government’s commitment to the gas supplier Uniper.
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