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Bankers brace for brutal bonus season: ‘People will just have to swallow it’
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Dealmakers across the City are braced for a brutal bonus season, as a $53bn hole in investment banking fees is forcing firms to wield the axe on both jobs and pay.
Bankers are faced with the choice of sucking up a smaller bonus — and an increasing chance of getting nothing at all this year — or venturing out into a barren job market as the hiring frenzy of 2021 reverses.
“People...
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