Top Bankers in Asia See 50% Pay Cuts After Drought in Deals
- Non-performing MDs see bonus cut by 70%, some get zero
- Senior star performers see little changed bonus to milder cuts
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Top investment bankers in Asia ex-Japan at Wall Street’s biggest firms are having their worst payouts since the financial crisis more than a decade ago, according to people familiar with the matter.
On average, managing directors at banks including Goldman Sachs Group Inc., Morgan Stanley and Bank of America Corp. have seen their total compensation drop by 40% to 50%, with payouts for senior MDs falling to between $800,000 to $1.5 million and for first-year MDs to $600,000 to $1 million, the people said, asking not to be named discussing internal matters.