eFinancialCareers: Bonuses Fail to Meet Expectations

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eFinancialCareers - Despite bracing themselves for bonus decreases after a turbulent year in the markets, the majority of respondents still emerged disappointed from the bonus season. Nearly five in ten respondents (47%) said they were somewhat dissatisfied or very dissatisfied with their bonus, compared to 34% in 2010.

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With reporting and bonus season both in full swing, efinancialcareers takes a sneak preview of the early reporting of City finance professionals who had their 2011 bonus revealed to them. eFinancialCareers’ survey confirms the expected downward trend movement in total bonuses – over a third of respondents (36%) had a decrease, this compares to 21% last year.

Despite bracing themselves for bonus decreases after a turbulent year in the markets, the majority of respondents still emerged disappointed from the bonus season. Nearly five in ten respondents (47%) said they were somewhat dissatisfied or very dissatisfied with their bonus, compared to 34% in 2010. A similar proportion (48%) of respondents said their bonus was beneath their expectations. This compares to 36% in 2010. At the opposite end of the spectrum, one in ten (11%) City professionals said their bonus exceeded their expectations.

James Bennett, Global Managing Director of eFinancialCareers comments:
“Retention should remain high on the agenda of banks’ Human Resources teams. The high level of disappointment among City’s professionals may come as a surprise to many, but should not be ignored. Disappointed City professionals are likely to quit their current job as soon as a global growth picks up again, or a better opportunity comes along.”

eFinancialCareers launched its 2011 Compensation Survey to preview the level of bonuses given to financial professionals within banking and financial sector. The survey took place between January 16 and February 17, 2012, with 292 financial markets professionals who are bonus-eligible and know the amount of their annual bonus responding.

For full data and 2011 vs. 2010 comparison, please contact Anne Bourgeois in the press office.

Further press information

For media enquiries or to arrange an interview with eFinancialCareers, please contact:

Anne Bourgeois
abourgeois(at)efinancialcareers(dot)com
M: +44 (0) 7432 736 221

About eFinancialCareers
eFinancialCareers, a Dice Holdings, Inc. service, is the leading global career site network for professionals working in the investment banking, asset management and securities industries. The website provides financial services professionals with job opportunities, job market news and analysis, salary surveys and career advice. Recruiters and employers can post jobs targeting specific sectors within the financial services industry, both buy-side and sell-side, and can search the resume database for highly qualified and specialized professionals. eFinancialCareers has a network of co-branded career sites with industry-leading trade publications and offers local websites in 19 markets and five languages primarily across North America, Europe, the Middle East and Asia-Pacific. http://www.eFinancialCareers.co.uk

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Anne Bourgeois