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Tuesday, August 10, 2021

AMs May Spend 10 to 15 Percent More On Bonuses

News summary by MFWire's editors

Expect asset managers to increase their spending on bonuses by double digits this year, according to a financial services-focused compensation consulting firm.

Asset managers' "incentive funding" is projected to rise by 10 to 15 percent in 2021 (as compared with 2020) on a headcount-adjusted basis, according to the 2nd quarter financial trends and projections report released yesterday by the folks at New York City-based Johnson Associates. The report's authors note that market appreciation is boosting firms' AUM, while fixed income and multi-asset strategies are dominating inflows.

Among 10 asset management firms (not named in the report) surveyed by the Johnson Associates team, the median projected bonus pool increase this year (based on actual bonus data for the first half of 2021 and projections for the second half) is 15 percent. One of the ten firms' bonus pools is projected to stay level with its 2020 pool; none are projected to drop this year, and three are projected to boost their bonus pools by 20 percent.

In comparison with traditional asset managers, hedge funds and mid/large private equity firms are projected to see similar bonus pool increases, while mega PE firms, investment banks, and equities trading desks are all projected to see bigger bonus pool jumps. 

Edited by: Neil Anderson, Managing Editor


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