Compensation Survey: Brazil Pay Bottoms
Jul 1, 2009
Brazilian investment bank compensation may tumble this year, but recovery is in sight. Those institutions less impacted by crisis should still pay well.
by James Crombie
A slump in capital markets activity and industry consolidation are a significant drain on Brazilian investment banking compensation, which is down in line with global trends. But the third annual compensation survey by LatinFinance in association with global recruitment firm Options Group shows that the salary and bonus lows may have already been struck.
“Comp reality has changed forever. The euphoria that we saw in 2006/2007 will not come back, at least for some time,” says Vinicius Bolotnicki, a São Paulo-based director at Options Group. “There are a lot of people in the market that need jobs and the market is not going to absorb these people in a year or in six months, it’s going to take a while,” he adds.
Headcount has been hammered by the mergers of Bank of America and Merrill Lynch, Itaú Unibanco and...
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