CNNMoney: Bye bye fat bonuses

[Fin-IB]

<p>[Wall</a> Street bonuses will slide in 2008 - Johnson Associates - Aug. 6, 2008](<a href=“Wall Street bonuses will slide in 2008 - Johnson Associates - Aug. 6, 2008”>Wall Street bonuses will slide in 2008 - Johnson Associates - Aug. 6, 2008)</p>

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NEW YORK (CNNMoney.com) – Looks like Wall Street bankers can kiss those fat bonuses goodbye this year.</p>

<p>Some bankers’ bonuses will be slashed by nearly half in 2008, and most can expect a 15% to 25% reduction from last year’s levels, according to a recent projection from compensation consultancy firm Johnson Associates.</p>

<p>Johnson Associates expects the bigwigs to give up the most, with bonuses of senior firm managers at investment banks tumbling 35% to 45% from 2007 levels. With the public scrutinizing deep-pocketed CEOs when most Americans are penny pinching, shareholders may not stand for executives taking home millions while their companies lose billions, the consultancy firm said.</p>

<p>Other staffers at investment banks could see their extra compensation sink 20% to as much as 30%.</p>

<p>Hedge fund managers and commercial and retail bankers’ bonuses could be 15% lower, while real estate brokers may have to take home 10% less than last year.

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