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Wall Street Bankers Expected To Take A Haircut

As the Federal Reserve announces a rate change, traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession.

At a glance

  • Investment bankers are expected to take the biggest hit, with bonuses dropping 40-45. percent.
  • Fixed-income traders, however, could get double-digit pay bumps.
  • Wall Street bonuses have been rising annually, but economic stagnation might have caught up with traders.

 

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