Investment bankers 'face bonus cuts'
Bonuses will fall sharply for investment bankers and traders this year, according to a salary report.
Bankers handling mergers and acquisition (M&A) and share sales could see bonuses fall 4% on average, says salary benchmarking website Emolument.
Currency and commodity traders face a 9% cut after "heavy losses" on many trading desks this year.
A managing director in that team will have a bonus of £265,000 compared with £290,000 last year, the report said.
The report suggests directors in the same team will receive £114,000, vice-presidents £58,000 and associates £28,000 in the bonus round, typically held from now until March.
Emolument co-founder Alice Leguay told the BBC: "Banks are really struggling to spread the bonus pools around. They are under a huge amount of pressure from shareholders not to pay big bonuses."
There was also still "a haze of negative perceptions" around bankers' bonuses from the public, she said.
However, the fall in bonuses, which follows an increase last year, would not be spread evenly across all staff, she said.
More bankers would receive a "doughnut" - the term for a bonus of zero - to pay for top-performing staff who banks "simply cannot afford to lose", Ms Leguay said.
Basic salaries had also increased this year to circumvent the EU salary cap and provided more job security, she added.