Morgan Stanley removes bonus cap for London bankers, aligning with JPMorgan and Goldman Sachs.
Morgan Stanley is ending its bonus cap for bankers in the City of London, following similar moves by JPMorgan and Goldman Sachs. The Wall Street bank is replacing the limit that restricted certain employees' bonuses to two times their fixed pay with "an appropriate internal bonus cap". The changes reflect the shift towards US-style pay structures, with bankers potentially earning bonuses up to 10 times their base salary.
July 01, 2024
7 Articles