Wall Street expects a bonus
Half of financial professionals on Wall Street expect to get a larger bonus this year, and some of those expect a much bigger payout, according to an annual survey by financial job board eFinancialCareers.com, Reuters and CNBC.com reported. Eleven percent expect bonuses that are at least 50 percent higher than those paid out at the start of 2010, according to eFinancialCareers, a unit of Dice Holdings Inc., even though 2010 is seen as a “sideways” year for the stock market. Market conditions were most widely cited as a factor putting pressure on bonuses, followed by the Dodd-Frank law that tightens regulations of financial services companies. Voluntary restraint by firms is also seen dampening down bonuses. Professionals with longer experience generally have lower expectations for bonuses, eFinancialCareers found. For those with 15 or more years of experience, 38 percent expect no or diminished bonuses this year.