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Few on Wall Street were optimistic about bonus season this year — but stingy payouts have still managed to leave many disappointed. 

The consensus among most junior bankers is that most faced yet another year of s–tty comp, according to Wall Streets meme master Litquidity.

The finance-focused social-media account has been barraged with junior bankers complaining that bonuses this year were a bloodbath and across the board bad news.

Nowhere was that more evident than at Citi, where employees have been informed roughly 20,000 of their ranks will be culled.

While few expected anything too generous given the state of the bank, the lackluster comp only exacerbated the poor morale. 

Citi bonuses were straight-up disrespectful, one employee complained to Litquidity. 

Another chimed in that Citi payouts were savage across the board, while yet another banker called them absolute st.

For others, layoffs put things in perspective, Bonuses were way down but I still got one.

At Goldman Sachs, one employee said of the rank-and-file, Cant say anyone was really happy.

Another described compensation as unevenly distributed with the partners once again getting a good payout and lower-ranking employees getting shafted.

We said we would pay for performance and thats what guided our comp decisions across our businesses,” Tony Fratto, Goldman’s head of communications said.

At Americas largest bank, JPMorgan, compensation and morale remained relatively stable.

One employee even went so far as to call his bonus awesome. 

While it’s too early to know the overall trend for how each bank paid employees year over year — Bank of America has yet to tell employees their total compensation — the pools at most banks were smaller as a result of a continued slowdown in dealmaking.

Litquidity said the bonus season was expected — in part because of the widespread reports this year would be worse than last.

An annual report from compensation consulting firm Johnson Associates at the end of last year predicted bankers could see bonuses dropping 15% to 25% this season.

Most Wall Street professionals will have to wait another year for a rebound in year-end bonuses, Alan Johnson, managing director of the firm, said. For most it will be another disappointing year. 

Of course, the issue is that most bankers think theyre the exception to the rule and will be the outlier who gets compensated well.

At the same time, many young bankers have inflated expectations after receiving record bonuses for the 2021 fiscal year. 

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Those payouts had been fueled by record earnings — and a willingness to pay top dollar amid a labor shortage that led to a war for talent.

An annual report from compensation consulting firm Johnson Associates at the end of last year predicted bankers could see bonuses dropping 15% to 25% this season.

Most Wall Street professionals will have to wait another year for a rebound in year-end bonuses, Alan Johnson, managing director of the firm, said. For most it will be another disappointing year. 

Of course, the issue is that most bankers think theyre the exception to the rule — and will be the outlier who gets compensated well. At the same time, many young bankers have inflated expectations after receiving record bonuses for the 2021 fiscal year. 

Those payouts had been fueled by record earnings and a willingness to pay top dollar amid a labor shortage that led to a war for talent.

Indeed, management in 2022 had painted the bonus drought as a one-off, sources said. 

Unfortunately, that doesnt appear to be panning out.

The bar was so low for giving people a small percentage uptick that managers were certain 2023 would be better, a source said.  

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Twins call on RHP Matthews to keep streak going

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Twins call on RHP Matthews to keep streak going

The Minnesota Twins recalled right-hander Zebby Matthews from Triple-A St. Paul and inserted him into the rotation for their road game Sunday against the Milwaukee Brewers.

The 24-year-old Matthews closed out last season in the Twins’ rotation and fashioned a 1-4 record with a 6.69 ERA in nine starts. He has produced a 2-1 record with a 1.93 ERA in seven starts for St. Paul, which includes 38 strikeouts and nine walks over 32⅔ innings.

The Twins, who carry a 13-game winning streak into Sunday’s game, also selected the contract of outfielder Carson McCusker, a 26-year-old who has yet to make his big league debut. The 6-foot-8, 250-pound slugger is hitting .350 with 10 homers and 36 RBIs in 38 games this season for St. Paul.

The task ahead of Matthews is to try to continue a hot pitching streak that has seen the Twins record three straight shutouts, including in the first two games of the Brewers series. Minnesota enters Sunday with a collective 3.15 ERA that ranks No. 3 in the majors.

The active stretch of 33 straight shutout innings is the longest such streak in Twins history, which began in 1961. They had three longer shutout streaks when they were the Washington Senators, but the most recent of those took place in 1913.

To accommodate Matthews’ arrival, the Twins placed reliever Danny Coulombe (left forearm extensor strain) on the 15-day injured list, retroactive to Thursday. Coulombe has yet to allow a run this season in 16⅔ innings.

To make room for McCusker, the Twins shifted rookie Luke Keaschall to the 60-day IL to open a spot on the 40-man roster. Keaschall fractured his right forearm April 25 against the Los Angeles Angels.

The Associated Press and Field Level Media contributed to this report.

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Cora to skip game to attend daughter’s graduation

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Cora to skip game to attend daughter's graduation

BOSTON — Red Sox manager Alex Cora will miss Monday’s series opener against the New York Mets at Fenway Park so he can attend his daughter’s college graduation.

Cora’s daughter, Camila, will be graduating from nearby Boston College.

“It’s going to be a very special day — one that I’m not going to miss,” Cora said before Sunday’s game vs. the Atlanta Braves. “I 100% will miss the game for that. I will do that any given day. It’s going to be a very special day for us.”

Cora reflected on how the time has seemed to go quickly and spoke about how fast his daughter seemed to grow up.

“It went fast, it went really fast,” Cora said of her time in college. “For a girl from divorced parents, her mom did an amazing job, staying the course while I was playing and coaching and doing my ESPN thing. … She’s actually a reflection of her. I appreciate everything she’s done for her and for us.”

Asked if he’ll be able to hold back his emotions at the ceremony, Cora smiled and said “We’ll see,” before bringing up memories of when his daughter was at the 2018 World Series victory celebration and a postseason series wrap-up win over Tampa Bay in ’21 at Fenway.

“It’s going to be an amazing day. It happened fast,” he said. “You put everything into perspective, you go back to the videos of ’18, she was a little girl.

“Then you go back to ’21 when she hopped onto the field when we beat Tampa, she was still a little girl. Now, she’s not a little girl,” he said. “She’s a woman. She had fun with it. She’s a great student and the future’s bright for her.”

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Brewers send struggling starter Myers to minors

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Brewers send struggling starter Myers to minors

MILWAUKEE — Brewers pitcher Tobias Myers is going back to the minors as he continues to struggle to match the success he enjoyed as a rookie last year.

The Brewers optioned Myers to Triple-A Nashville on Sunday while selecting right-handed pitcher Easton McGee from Triple-A and transferring left-handed pitcher Connor Thomas to the 60-day injured list.

Myers is 1-1 with a 4.95 ERA in six appearances, including five starts. He allowed four runs over 3 2/3 innings in a 7-0 loss to the Minnesota Twins on Saturday.

The right-hander had gone 9-6 with a 3.00 ERA last season and was selected the Brewers’ most valuable pitcher by the Milwaukee chapter of the Baseball Writers Association of America. He closed that season by pitching five scoreless innings in the decisive Game 3 of the NL Wild Card Series against the New York Mets, a game the Brewers lost 4-2 by allowing four runs in the ninth.

“I love the kid, man,” Brewers manager Pat Murphy said after Saturday’s game. “You saw it in Game 3, that’s in there. So we’ve got to get back to that.”

The Brewers had optioned Myers to Nashville a week ago, but he didn’t actually pitch there before rejoining the big-league club after left-hander José Quintana went on the injured list with a left shoulder issue. Now he’s heading back to Nashville.

Myers entered Saturday having walked 10 batters over 16 1/3 innings. He didn’t walk anyone Saturday, but gave up a career-high 11 hits.

“My goal was to fill the zone up and kind of get away from the walks I’ve been dealing with,” Myers said after the game. “I think I just filled it up a little too much.”

McGee went 1-0 with a 3.44 ERA and 20 strikeouts over 18 1/3 innings in 13 relief appearances with Nashville.

McGee appeared in one game for Tampa Bay in 2022 and one game for Seattle in 2023.In the only two games he has pitched in the big leagues, McGee has allowed just one unearned run over 9 2/3 innings while striking out three and allowing five hits and one walk.

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