Someone has gotta pay.
Bloomberg News reports that employers may dismiss interest-rate traders and pay the remaining ones in the U.S. 18% less on average than in 2013, the recruitment firm said in a mid-year report. Investment bankers in the U.S. and Europe may see a 15% jump in total pay, and people working in equity derivatives may get an even larger boost.
'There’s not that much movement in the rates business, so the overall environment for rates is quite bleak', said Options Group Chief Executive Officer Michael Karp. 'Couple that with banks having to reduce headcount and cut risk over the last two years in that business'.
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