bank bonuses

Bankers Expect a 7% Drop in Bonuses

Bankers worldwide are expecting smaller bonuses this year. Still, they will be hard pressed to find much sympathy as their base salaries were boosted -- in some cases doubled -- this year to compensate for the lower year-end bonuses.

Morgan Stanley to Trim 2010 Bonus Pool by 10% to 25%

Morgan Stanley is reportedly planning to pay out 10% to 25% less in bonuses this year to its employees, an effort to cut costs as it deals with volatile market conditions. The cuts are slated to affect traders, back-office staff and other employee groups, but perhaps not unusually strong performers.

European Parliament Undermines Banker Bonuses

The European Parliament has reportedly moved to reform the system of paying investment bankers, approving new rules that will require between 40% and 60% of bank bonuses to be deferred for at least three years, and giving governments the ability to claw back bonuses on deals that go bad.