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Financial Planning > Behavioral Finance

Banks Hold Back On Hiring, Bonuses

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Only 20% of financial institutions plan to increase hiring in the next 6 months, while 55% plan to reduce bonuses, according to Grant Thornton L.L.P.

Grant Thornton, Chicago, an accounting firm, has reported that finding in a summary of results from a recent survey of financial officers and comptrollers.

About 40% of the financial institution comptrollers expect the U.S. economy to improve the next 6 months, compared with 49% of the survey participants in other industries, Grant Thornton reports.

Only 22% of the participating financial institutions are cutting 401(k) matches, but 31% expect to reduce health benefits.