Bankers Always Get Paid, No Matter What
It's hard to see how investment banks can avoid rewarding their top performers, even during a pandemic.
Good times, for some.
Photographer: ANGELA WEISS/AFPRaising banker compensation in the midst of a pandemic isn’t the best look. But this is the dilemma facing Wall Street after a bumper year for performance. Pay too little and you lose your stars; pay too much and you infuriate the public.
Across investment banking it will be a year to remember, and not just because of the work from home experiment. Slumping economies and soaring unemployment have prompted central banks and governments to unleash unprecedented monetary and fiscal stimulus. With the world awash with cash, companies have been selling debt at a record pace, while market volatility has bolstered banks’ revenue from trading stocks and bonds.