Bankers’ Pay Seen Rising While Rates Traders Extend Slump
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Interest-rate traders will probably suffer Wall Street’s biggest pay cuts for a second straight year, while firms add investment bankers and boost their pay, Options Group Inc. said in a report.
Employers may dismiss interest-rate traders and pay the remaining ones in the U.S. 18 percent less on average than in 2013, the New York-based recruitment firm said in a mid-year report released yesterday. Investment bankers in the U.S. and Europe may see a 15 percent jump in total pay, and people working in equity derivatives may get an even larger boost.