Market volatility has served to increase what is already regarded as a suspenseful period on Wall Street, as the overall value of bonuses for those working at US banks hangs in the balance.
In regular circumstances the picture over bonuses would be far clearer than it is now, but turbulence in the market has halted the progress of many executives as they seek to hold off as long as possible until giving clarification on bonuses.
As reported by Reuters, compensation consultant Alan Johnson commented on the situation: “There may be people working New Year’s because they’ve got to finalise this January 10 or 15. People are going to be particularly vigilant to make sure that they’re going to be paying the right amount, figuring it out right up to the end of the year.”
Reuters emphasised that the sector is expecting potentially poor performances with a myriad of some of the most recognisable US firms reporting losses in the opening nine months of 2019.
It follows a survey by the Options Group which revealed its projection that bonuses will follow in the footsteps of cash equities and equity derivatives this year and fall significantly.
The group also highlighted the impact that market turbulence has had on the expectations of this year, specifically highlighting the implications of a much feared trade war between the US and China, which would have caused the Federal Reserve to increase its stringency in terms of its monetary policy.