Goldman Sachs Issues Bonus Warning for Traders

Bloomberg reports that major banks, including Goldman Sachs and Jefferies, are warning of significant bonus cuts due to a volatile year on Wall Street. The cuts are surprising, especially in Goldman's trading unit, which performed well. This trend is affecting the entire banking industry, with some banks like Barclays potentially offering zero bonuses.

What was the reason given by Jefferies for the bonus reduction warning?

• A stable economic environment

• Increased profits in the banking sector

• A volatile year across Wall Street

• A successful year on Wall Street

Which unit at Goldman Sachs was unexpectedly affected by the bonus cuts?

• Investment Banking Unit

• Retail Banking Unit

• Corporate Banking Unit

• Trading Unit

What is Goldman Sachs known for in terms of its bonus policy?

• No bonuses at all

• Bonuses based on performance

• Bonuses based on seniority

• Equal bonuses for all employees

Which bank warned its staff about a tough bonus season, similar to Goldman Sachs?

• HSBC

• Deutsche Bank

• Jefferies

• Morgan Stanley

What is the expected trend for bonuses in investment banking this year?

• Higher than last year

• Much tougher than last year

• Same as last year

• No change from last year