Bonus pools drying up for investment bankers | FT

It used to be said that investment bankers could earn $100,000 a year for every year out of business school. Now, the joke has it, they pocket $100,000 less.

Investment banking executives will be meeting over the coming weeks to determine the size of their bonus pools. After two years of falling packages, investment bankers face the bleak prospect of further cuts, the result of the dramatic decline in their traditional sources of revenue. Mergers and acquosition activity is at a seven-year low and initial public offerings have dried up. more