Overall risk experts expect to get bonuses 48% smaller than in 2008

Forty-four percent of risk experts do not expect to receive a bonus at all this year according to risk recruiter GRS. As a result average expectations of yearly bonus levels are also on the decrease. Overall risk experts believe their bonuses will be 48% smaller than 2008.

A survey of over 500 UK based risk professionals found that a majority (69%) of them thought they would take a bonus cut. Only 15% expected no change in their bonus compared to the previous year. And only 16% said they expected their bonus to be larger this year than last year.

“The entire industry has had a massive reality check and that's reflected in these gloomy bonus predictions.

GRS consultant, David Butters

The results of the survey stand in stark contrast to those collected by GRS six months earlier, when confidence was still riding high. Even after the onset of the credit crisis, in November 2008, 28% of risk professionals expected their bonuses to be larger than last year and 67% of risk professionals still expected to get a bonus.

GRS consultant, David Butters, said: ‘The entire industry has had a massive reality check and that’s reflected in these gloomy bonus predictions.’