Wall St bankers in line for poor 2012 bonuses

Wall Street banks are deflating their employees' pay expectations to avoid a replay of last year when cutbacks on bonuses and increased deferrals surprised bankers and traders.

Almost 20 per cent of employees will not get year-end bonuses, according to Options Group, an executive-search company that advises banks on pay. Those collecting awards may see payouts unchanged from last year or boosted by as much as 10 per cent, compensation consultant Johnson Associates estimates. Decisions are being made as banks cut costs and firms including UBS and Nomura fire investment-bank staff.

via Business feed http://www.scmp.com/business/banking-finance/article/1081927/wall-st-bankers-line-poor-2012-bonuses