Bonus Cuts Hurting More Than Top Wall Streeters - NYT
Anthony Abraham, 33, a management consultant in Chicago, is already figuring he will not be buying a new car, and has canceled a trip to Paris and will be paying back less than planned on his student loans.
Last year, his bonus was around $50,000. This year, it will be half that amount, he figures, give or take a few thousand.
“It makes a real material difference,” said Mr. Abraham, who has a $135,000 base salary. His bonus has typically gone to basic lifestyle maintenance, not frivolity, he said, adding, “It’s not the kind of money where I could head down to the Ferrari dealership.”
Source: The New York Times
