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2022 bonus expectations – bank by bank

How big will your bonus be this year? Well… Which bank do you work for?

Our annual compensation survey received 1,500 responses from employees working on both the buy-side and sell-side of the financial services industry globally. 

Even though 2022 isn't exactly ending on a high note, survey respondents were surprisingly delusional positive. On average, respondents on the sell-side expected bonuses to be up by nearly 5%. But the level of optimism varied by bank.

Respondents at Citi and HSBC were the most optimistic – surprisingly, given that HSBC actually paid pretty good bonuses for 2021 and Citi juniors have been complaining about pay, among other things.

While Morgan Stanley's analysts complained about their bonuses last summer and while the US bank is engaged in cutting 2% of its employees, everyone else at the US bank is pretty bullish according to our survey. 

People at BNP Paribas also appear comparatively optimistic this year, possibly reflecting a good year for the French bank's salespeople and traders. 

Respondents from Berenberg were colossally pessimistic, which is unsurprising given last month's revelation that bonuses at the German bank are likely to be close to zero in light of the "challenging environment."

People at Credit Suisse, UniCredit, and Standard Chartered were also gloomy, which is somewhat understandable at Credit Suisse.

Other US banks were in the middle of the pack. JPMorgan and Goldman Sachs respondents were cautious. Goldman is thought to be eyeing a 30% cut to its markets bonus pool. CEO David Solomon said yesterday that the bank will be paying based on,"performance mindset with a focus on talent retention.”

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AUTHORZeno Toulon

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