Risk bonuses tumble 23%

Risk professionals expect their bonuses to be 23% smaller than last year, according to a new survey.

While around two thirds (67%) expected to receive a bonus, most of them thought it would be a smaller one than they’d received in previous years.

A third (33%) of all respondents said they would not receive a bonus at all this year.

The research, by risk recruiter GRS, showed that 15% expected no change in their bonus compared to the previous year. A lucky minority (28%) expected their bonus to be larger this year than last.

“Despite the downturn, risk is in the ascendancy.

Head of GRS Risk London, David Butters

The poll also revealed that 67% of risk professionals still expected to get a bonus this year, despite the turmoil in the financial markets.

Head of GRS Risk London, David Butters, said: ‘This is proof, if ever proof were needed, that despite - or indeed because of - the downturn, risk is in the ascendancy.’

A very lucky 12% of risk professionals expected their bonuses to double.

‘Were a star CRO in UK Credit Risk Management to see his 2007 bonus double this year, he’d be looking at taking home up to £850,000, including base. Sadly, the economic climate is impacting the bonuses available for those with large base salaries, so I don’t see this happening in the market right now. However, star performers with lower base salaries could well see their expectations met.’