Jefferies has paid its Australian staff some of the most generous bonuses in investment banking this year, bucking the trend of most international lenders.
Jefferies has paid its Australian staff some of the most generous bonuses in investment banking this year, bucking the trend of most international lenders, which have slashed compensation and trimmed headcount to reduce overall expenses.
This consistency in revenue enabled the firm to reward its bankers last month and ward off rival institutions, which cannot promise the same level of bonuses amid broader cost-cutting measures, said people familiar with the talks, who could not speak publicly about compensation.The New York Times Healthy bonus cheques are one of the surest ways to retain talented investment bankers, who typically sound out recruitment firms for new opportunities once bonuses hit their bank accounts.Wall Street’s annual musical chairs, however, was somewhat subdued this year as many bankers dare not test the job market at a time when banks are reducing headcount.
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