Half of Wall Street expecting bigger bonuses

Half of Wall Street finance professionals surveyed expect their bonuses to increase for 2010, eFinancial

Careers.com found.

About 71 percent of the 2,145 people who responded to the e-mailed poll in the United States said they are anticipating at least an equal bonus from last year, with 50 percent expecting a bigger payout, the job-search website said in a statement. About 11 percent said their bonus will jump by at least half, according to the survey.

The percentage expecting a bigger bonus increased from 36 percent in last year's poll, when firms faced pressure from regulators and lawmakers to rein in pay after many accepted billions in government rescue funds. Almost 60 percent of respondents cited market conditions as the biggest concern for their compensation.

"The signs of bonus euphoria may be hard to find, but Wall Street employers will have to deal with professionals who believe they are in contention for fatter paychecks and the inevitable retention issues should their expectations be dashed," Constance Melrose, managing director of eFinancialCareers North America, said in the statement.

About 91 percent of those in the U.S. poll expect to receive some kind of bonus this year, according to eFinancialCareers, a unit of Manhattan-based Dice Holdings Inc. The survey was conducted from Sept. 15 to Sept. 28 and received responses from front-office and support staff at investment and commercial banks, hedge funds and insurance companies. The results were part of a global survey that included financial workers in Britain, Germany, Australia, Hong Kong and Singapore. About 71 percent of respondents in Hong Kong expected a larger bonus, along with 69 percent in Singapore, 57 percent in Britain and 47 percent in Germany.

- Bloomberg News