We found out a few days ago that Morgan Stanley planned to cap all bonuses at $125,000 (unless your base salary is under $250K.) Now, the dirty details are out at Dealbreaker.
From the front lines:
“Terrible across all divisions. FID, IBD, and even equities hard hit – lots of zeroes at junior levels. Lots of deferred cash and stock for more senior people.”
“Demoralizing is best word to describe bonuses this year. Many 0′s, average seemed to be down 20-30% YOY in S&T for VPs/EDs. Brutal day.”
Beth Connolly is Head Editor, Writer, and Marketing Coordinator at the Compliance Exchange and the Wall Street Job Report. She tweets @Bethconnolly and shares her love of the good writing life at her blog, When Nutmeg Met Basil. A graduate of Middlebury College in Vermont, she works in Manhattan and calls Astoria home.