Finance professionals bearish on job bonuses

53% of respondents expect smaller or no extra compensation for their work in 2011.

Breaking it down, 20% of those surveyed foresee no forthcoming bonuses, while 33% anticipate more modest payouts compared to what they received in 2010.

Meanwhile, 20% see no change from their bonus amount and a minority 28% feel positive enough to anticipate a bonus increase, according to a new bonus expectations survey from eFinancialCareers.

The latest survey covered workers in the investment banking, asset management and securities industries. It covered two other areas aside from Singapore: Greater China and Australia.

"In Singapore, a third of respondents (33%) take a more conservative view and expect their bonus to decrease this year – this compares to 30% in both, Greater China and Australia," said eFinancialCareers in a release.

"Over eight in 10 (83%) finance professionals in Greater China expect to receive a bonus this year. Nearly a third (31%) anticipate an increase in comparison to the previous year. A similar proportion (30%) believe their bonus will be less, while just over two in 10 (22%) think it will be the same as last year. The remaining 17% don’t expect to receive a bonus at all this year," it added.

Overall, there is a bleak outlook for bonuses across the surveyed markets. "Asked to make a prediction about bonuses sizes over the next three years, 44% say they expect bonuses to decrease in the future, 26% anticipate bonuses to stay the same, and only 16% predict that bonuses will increase. Over three quarters (76%) of the respondents cited market conditions as the key factor that concerns them in relation to their bonus, believing that the tumultuous market will potentially lead to a downward influence on total compensation," eFinancialCareers added.

The survey was conducted in January 2012, surveyed employed bankers and finance professionals in Australia, Hong Kong, mainland China, and Singapore. A total of 895 finance professionals were surveyed, including 249 from Greater China. 

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Tags: Singapore finance professionals, Singapore bonus compensation 2011