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Even Wall Street’s Biggest Bonuses Will Disappoint This Year

Aug. 12, 2020, 11:00 AM

Will Wall Street’s hottest traders settle for a mere 30% raise?

Bank traders who saved their firms’ bottom lines in the first half of 2020 are facing a reality of the pandemic: Record revenue won’t mean record bonuses, with most businesses facing declines of 10% or more. Even bond traders are likely to find year-end rewards don’t line up with the cash they generated, as firms face loan losses and pressure on costs.

“If your division hits the ball out of the park for the year -- you’re probably better off when that happens in a good year for the ...