Covid-19 pandemic may eat into bonuses of domestic investment bankers

The pandemic has put a cloud on bonuses that domestic investment bankers expect to receive this year.

Based on deal activity, experts peg the bonuses at 30-60 per cent of annual salaries for FY20. Actual payouts — to be doled out by the end of this month or the next — however, may be much lower as banks look to conserve cash.

Increments, on the other hand, are likely be shelved altogether, considering the bleak outlook for fundraising in FY21. Bonuses for foreign bankers, however, have not been impacted by the pandemic. This is because these banks typically follow a calendar year