The Bay Area’s dismal pace of companies going public or being acquired spells sharply lower bonuses for many investment bankers and advisers who often shepherd these companies onto Wall Street or into the arms of acquirers.
Bankers working on IPOs, especially in the tech sector, could see their bonuses cut almost in half, according to. Another financial sector expected to be hard hit is asset management, given that fees are often based on the value of assets under management, which fell sharply in the down market for stocks and bonds over the last 12 months. Those working in asset management could see their bonuses fall 20% to 25%, according to Johnson Associates’ projections.
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