Banker bonuses are down and bankers are having to adjust to the new realities, according to an article posted on WSJ.com. In "Honey, They Shrunk My Bonus" the spending habits of Wall Street bankers are examined in the new reality of lower cash bonuses. Interesting read, but my feeling is that this likely doesn't apply to star investment bankers. Failure to pay these stars market rate will mean that the talent will move to private firms where they can earn market rates without the public scrutiny. As a result, there could be a talent drain from the major bulge-bracket firms. Here's the link:
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